Pasadena Real Estate

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.

 

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 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

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 »

http://www.pasadenacarealestatehomes.com/00A4FB

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

Read more »

http://www.pasadenacarealestatehomes.com/009E43

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:

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.

http://www.pasadenacarealestatehomes.com/009E1F

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.

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

 

http://www.pasadenacarealestatehomes.com/009DFB