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November 2009 Real Estate Update for Pasadena California

See the updated real estate statistics for Pasadena California

As the 2009 is coming to a close, I thought that it would be interesting to compare November 2008 to November 2009 real estate statistics for Pasadena California.

Some Highlights:

  • It was interesting to note that the number of homes sold in all categories was significantly higher last month vs. a year ago.  The overall Pasadena real estate inventory was lower, thus the reduction in the number of weeks of inventory on the market.
  • There was a significant drop in new listings for both townhomes and condos in November 2009.  Single family homes remain consistent in about 50+ Pasadena homes listed in November.
  • The price per square foot dropped significantly for single family homes - 9% lower than in 2008.  Townhomes have dropped from $426 to $397.  Pasadena condos remain at $377 per sq. ft.

Single Family Residence Nov-08 Nov-09
New Listings 56 53
Total Listings 261 226
Sales Pending 29 67
Homes Sold  42 69
Listings Expired 53 36
Average Days on the Market  115 67
Average Price Per Sq. Ft. $402 $368
Median Selling Price $445,750 $620,000
Average Selling Price $699,591 $714,001
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 26.9 14.2
     
Condos Nov-08 Nov-09
New Listings 39 24
Total Listings 159 172
Sales Pending 7 35
Condos Sold  17 29
Listings Expired 27 17
Average Days on the Market  110 86
Average Price Per Sq. Ft. $377 $377
Median Selling Price $455,000 $485,000
Average Selling Price $428,641 $491,121
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 40.5 25.7
     
Townhomes Nov-08 Nov-09
New Listings 27 14
Total Listings 68 67
Sales Pending 10 23
Townhomes Sold  5 15
Listings Expired 5 4
Average Days on the Market  36 59
Average Price Per Sq. Ft. $426 $397
Median Selling Price  $ 575,000  $520,000
 Average Selling Price   $ 604,600  $539,267
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 58.9 19.4

Take a look at the inventory of homes for sale vs sold below. The number of available Pasadena homes for sale has decreased by over 50% from September 2008 to November 2009.

Pasadena real estate inventory of homes - November 2009

 


Also, an intersting chart below graphing the number of newly listed homes in Pasadena to the number of closed sales. November usually seeing the end of year slow down had a spur of sales this year most likely driven by the tax credit and low interst rates.

Pasadena real estate - new listings vs sales

Pasadena Homes for Sale:

The feeds below are direct from the Multiple Listing Service

  • Pasadena Homes for Sale $300,000 to $400,000
  • Pasadena Homes for Sale $400,000 to $500,000
  • Pasadena Homes for Sale $500,000 to $600,000
  • Pasadena Homes for Sale $600,000 to $700,000
  • Pasadena Homes for Sale $700,000 to $800,000
  • Pasadena Homes for Sale $800,000 to $900,000
  • Pasadena Homes for Sale $900,000 to $1,000,000
  • Pasadena Homes for Sale $1,000,000 to $1,200,000
  • Pasadena Homes for Sale $1,200,000 to $1,400,000
  • Pasadena Homes for Sale $1,400,000 to $1,600,000
  • Pasadena Homes for Sale $1,600,000 to $1,800,000
  • Pasadena Homes for Sale $1,800,000 to $2,000,000
  • Pasadena Homes for Sale $2,000,000 to $2,500,000
  • Pasadena Homes for Sale $2,500,000 to $3,000,000
  • Pasadena Homes for Sale over $3,000,000
  •  

    Pasadena Condos and Townhomes for Sale:

  • Pasadena Condos and Townhomes for Sale under $300,000
  • Pasadena Condos and Townhomes for Sale $300,000 to $400,000
  • Pasadena Condos and Townhomes for Sale $400,000 to $500,000
  • Pasadena Condos and Townomes for Sale $500,000 to $600,000
  • Pasadena Condos and Townhomes for Sale $600,000 to $700,000
  • Pasadena Condos and Townhomes for Sale $700,000 to $800,000
  • Pasadena Condos and Townhomes for Sale $800,000 to $900,000
  • Pasadena Condos and Townhomes for Sale $900,000 to $1,000,000
  • Pasadena Condos and Townhomes for Sale $1,000,000 to $1,200,000
  • Pasadena Condos and Townhomes for Sale $1,200,000 to $1,400,000
  • Pasadena Condos and Townhomes for Sale over $1,400,000
  • To search for your new Pasadena home, and all other homes available in the Greater Los Angeles area please visit Search MLS for FREE.  

    If you are thinking of buying or selling your Pasadena home, condo or townhome and would like a free comprehensive consulation. We'd love to meet with you! We can be reached at 626-629-VIEW(8439).

    IRINA NETCHAEV & ASSOCIATES

    Pasadena Real Estate Agents

    445 South Fair Oaks Avenue

    Pasadena, CA 91105

    (626)629-VIEW (8439)



    http://www.pasadenacarealestatehomes.com/00A544
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    Posted on December 29, 2009 22:18:07
    Posted by: Irina Netchaev
    Irina Netchaev

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    South Pasadena Dusty Deals(tm) List for December 2009 - Your South Pasadena Real Estate Deals

    See South Pasadena real estate opportunities in our Dusty Deals(tm) list.

    This year, many calls and emails from potential home buyers came in about short sales and foreclosure homes in South Pasadena; every one is looking for that "Real Estate DEAL"! As we begin to evaluate the year that is coming to a close and look ahead for the goals of 2010, for many home ownwership will be at the top of the list. Don't limit your possiblities to foreclosure homes and short sales!

    There are South Pasadena homes and condos for sale now that could be purchased for pretty good prices. And... when you are not dealing with banks, but are negotiating directly with home sellers, you can ask for concessions.  For example, wouldn't it be nice to have the home seller buy down your interest rate to make your monthly payment lower?

    A great place to start would be with homes, condominiums and townhouses that have been on the market for several months. Most home sellers at this point have either adjusted their home price or are open to negotiation. The houses below have been on the market for over 100 days (over 3 months!). There could be some pretty good deals hiding in there and incentives! With the first time home buyer tax credit still available through April of 2010, why not make your new home dreams a reality! We call them Dusty Deals™!

    Here is our Dusty Deals™ list for South Pasadena, California - Find your South Pasadena home:

    Read more »



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    Posted on December 17, 2009 12:57:01
    Posted by: Irina Netchaev
    Irina Netchaev

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    Arcadia Homes for Sale and Summer 2009 Real Estate Statistics

    Arcadia real estate statistics for homes, condos and townhomes.

    Price per square foot for single family homes in Arcadia dropped a little as we entered fall to $401 per sq. ft.  However, during the summer months, we've seen stable increases in the same statistic.

     Arcadia Single Family Homes Real Estate Data for April 2009 through September 2009:

    Date 4/09 5/09 6/09 7/09 8/09 9/09
    For Sale 150 140 134 149 134 122
    Sold 35 38 32 43 46 31
    Pended 39 39 33 49 35 40
    Months of Inventory based on Closed Sales 4.3 3.7 4.2 3.5 2.9 3.9
    Months of Inventory based on Pended Sales 3.8 3.6 4.1 3.0 3.8 3.1
    Avg. Active Price $1,480K $1,497K $1,487K $1,526K $1,628K $1,696K
    Avg. Sld Price $873K $914K $1,161K $956K $1,000K $897K
    Avg. Sq. Ft. Price $397 $364 $373 $395 $411 $401
    Sold/List Diff. % 95% 94% 96% 97% 96% 98%
    Sold/Orig LP Diff. % 93% 92% 90% 94% 95% 94%
    Days on Market 57 47 67 53 48 46
    Median Price $800K $800K $956K $838K $915K $828K

    *All real estate reports are published Oct. 2009, based on data available at the end of Sep. 2009.
    All reports presented are based on data supplied by CARETS. CARETS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by CARETS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

    Arcadia CA real estate price per square foot

     

    Arcadia Single Family Homes - 5 year over view of For Sale Vs. Sold:

    Read more »



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    Posted on October 12, 2009 07:22:39
    Posted by: Irina Netchaev
    Irina Netchaev

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    San Marino Housing Activity - Real Estate Statistics for the Summer of 2009

    San Marino real estate activity for the summer of 2009 and a five year look at San Marino home inventory.

    It has always been surprising to me to see a very stable turnover of homes in San Marino California.  Overall, San Marino is a pretty small town with only 4,500 housing units.  All of them are single family homes - no condos or townhomes.  However, for the last several years, each month, we see about 40 available home listings and somewhere around a dozen sales.

    Here's a visual representation of home value available for sale vs sold in San Marino over the last five years:

    San Marino real estate volume 2004-2009

    Just to make it a bit clearer, take a look at the volume data below:

    1 month 1 year 5 years
      Aug 09 Sep 09 % Change Sep 08 Sep 09 % Change Sep 04 Sep 09 % Change
    For Sale 40 45 12.5% 49 45 -8.2% 104 45 -56.7%
    Sold 13 13 0% 8 13 62.5% 33 13 -60.6%
    Pended 12 12 0% 7 12 71.4% 29 12 -58.6%

    San Marino real estate activity for the months of June through September 2009 including median home price is below:

    Single Family Residence Jun-09 Jul-09 Aug-09 Sep-09
    New Listings 11 17 13 16
    Total Listings 36 41 41 44
    Sales Pending 15 14 17 14
    Homes Sold  16 12 13 12
    Listings Expired 3 5 5 7
    Average Days on the Market  67 63 80 48
    Average Price Per Sq. Ft. $566 $582 $606 $562
    Median Selling Price $1,435,500 $1,515,500 $1,390,000 $1,540,000
    Average Selling Price $1,922,125 $1,738,242 $1,773,538 $1,544,250
    Absorption Rate (# of weeks to sell current inventory at present rate of sales) 9.8 14.8 13.7 15.9

    The highest priced home in San Marino for sale is at 1221 Virginia Road.  It is listed for sale at $9,288,000.

    The lowest priced home in San Marino is listed for sale at $948,000 and is located at 2225 S Los Robles Avenue.

    All homes for sale in San Marino are listed below:

     

    To see San Marino home details, please visit San Marino homes for sale.

    For additional information on any of these homes or a private consultation about your real estate needs, please contact Irina Netchaev, your San Marino real estate agent at 626-204-3340.



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    Posted on October 09, 2009 08:06:03
    Posted by: Irina Netchaev
    Irina Netchaev

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    Pasadena Real Estate Report - Summer 2009

    Pasadena real estate information including statistics and trends for homes for sale during the summer months of 2009

    Summer is now over and we're well into our first fall month.  Pasadena's real estate activity has truly been on fire during the summer.  Many home buyers were out trying to take advantage of the first time home buyer $8,000 tax credit, as well as, the lower home prices.

    Some observations:

    • Single Family home sales volume in Pasadena peaked at 101 homes sold in July and dropped to 65 in September.
    • Price per square foot of single family homes is stabilizing just under $400 for Pasadena overall.
    • Pasadena median home price is in the low to mid $600K for single family.
    • With only a bit more than 4 months of inventory, we're considered to be in a seller's market.
    • Pasadena condos have done extremely well with average price of sq. ft. rising from the low of $330 to $369.
    • Pasadena townhome prices have also been on the rise during the summer with an average selling price of $584,885 in September 2009.

    Pasadena Real Estate Trends and Data for June through September 2009:

    Single Family Residence Jun-09 Jul-09 Aug-09 Sep-09
    New Listings 93 59 56 86
    Total Listings 313 276 257 268
    Sales Pending 111 111 91 81
    Homes Sold  68 101 80 65
    Listings Expired 31 22 20 48
    Average Days on the Market  193 65 75 83
    Average Price Per Sq. Ft. $408 $376 $374 $390
    Median Selling Price $660,000 $599,000 $645,000 $635,000
    Average Selling Price $881,754 $712,909 $779,146 $715,212
    Absorption Rate (# of weeks to sell current inventory at present rate of sales) 19.9 11.8 13.9 17.9
             
    Condos Jun-09 Jul-09 Aug-09 Sep-09
    New Listings 38 48 50 32
    Total Listings 152 168 171 153
    Sales Pending 44 51 50 51
    Homes Sold  39 34 28 33
    Listings Expired 29 18 24 16
    Average Days on the Market  155 91 91 67
    Average Price Per Sq. Ft. $330 $339 $360 $369
    Median Selling Price $430,000 $459,000 $448,500 $475,000
    Average Selling Price $420,436 $462,626 $457,211 $498,588
    Absorption Rate (# of weeks to sell current inventory at present rate of sales) 16.9 21.4 26.5 20.1
             
    Townhomes Jun-09 Jul-09 Aug-09 Sep-09
    New Listings 27 16 16 24
    Total Listings 71 71 71 76
    Sales Pending 24 23 12 20
    Homes Sold  15 20 16 13
    Listings Expired 5 5 8 11
    Average Days on the Market  118 104 86 76
    Average Price Per Sq. Ft. $340 $332 $349 $397
    Median Selling Price  $ 480,000  $    479,000  $ 474,500  $ 580,000
     Average Selling Price   $ 528,200  $    510,000  $ 498,875  $ 584,885
    Absorption Rate (# of weeks to sell current inventory at present rate of sales) 20.5 15.4 19.2 25.3

    It is also interesting to take a look at the five year trend of what Pasadena home sellers are pricing their property at and what it is actually selling for.  Based on the graph below it seems like the home sellers are a bit unrealistic in recent months and the gap between reality and fantasy pricing has grown.

    Pasadena Real Estate For Sale vs Sold - 2004 to 2009

    For those of you interested in buying a Pasadena home or are just curious about Pasadena property for sale, please take a look at the Pasadena homes for sale below.  Feel free to sign up for a FREE membership to the MLS (Multiple Listing Service) listings by creating a VIP accounts below.

     

    For details on any of the above Pasadena homes, please visit Pasadena homes for sale.

    Read More:

    Getting More House for your $

    9 Stupid Things Buyers do to mess up their home purchase

    The fastest way to lose your earnest money deposit

     

    Homes for Sale Information:

    South Pasadena City Guide

    Pasadena Real Estate Guide

    Altadena Foreclosures List

    Burbank Foreclosure Home List

    Pasadena Foreclosure Home List

    South Pasadena Foreclosure Home List

     

     

    If you are thinking of buying or selling your Pasadena home, condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

    IRINA NETCHAEV & ASSOCIATES

    Pasadena Real Estate Agents

    445 South Fair Oaks Avenue

    Pasadena, CA 91105

    (626)204-3340

     

    MLS listing Search

    How much is my home worth

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    http://www.pasadenacarealestatehomes.com/009DFB
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    Posted on October 08, 2009 08:46:54
    Posted by: Irina Netchaev
    Irina Netchaev

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