Pasadena Real Estate

Monterey Hills condo and townhome inventory is almost non-existent in January.  Two new condos came up on the market and two condos closed escrow. Only one townhome is available for sale on the hill.

Considering there are 21 condo complexes with close to 1,800 condo and townhome units, the supply of condos isn't quite there.  The demand is not quite there as well with price per square foot falling to $277.

It'll be interesting to track the developments on the hill over the next few months.  In the meantime, here're Monterey Hills statistics for the last three months:

Search for available Monterey Hills condos and townhomes:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

Monterey Hills condos and townhomes are definitely feeling the downturn in the economy.  Only 2 Monterey Hills condos and 1 townhome sold in December.  The listing inventory is very low as well.  Less than a dozen properties are available for sale.  Take a look at the real estate statistics for the last quarter of 2008 below.

Monterey Hills Real Estate Statistics for October 2008 to December 2008:

Search for available Monterey Hills condos and townhomes:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent                 626-627-7107    

Not much change in the Monterey Hills real estate inventory in November 2008.  Monterey Hills townhomes are non-existent - only one unit on the market.  Monterey Hills condos are also pretty much at a stand-stil with no new condo listings in November and only eight total condos available for sale. 

Statitstics for Monterey Hills real estate for September through November 2008:

See Monterey Hills condos and townhomes available for sale below:

(Please note, because there are multiple listing services in the Pasadena Monterey Hills area and our listing service combines condo and townhome information from all these listing services, some of the home listings can be duplicated since these condos and townhomes have been entered into each indivdual service separately - have fun searching)

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent                 626-627-7107    

Monterey Hills real estate is in a flux of confusion right now.  Even though the volume of available condos  and townhomes on the market is quite low, the prices are dropping at a rapid pace.  The area has been affected by a number of short sales and foreclosures that are pulling the sales prices down.  Buyers are taking a "wait and see" attitude.

It is now reasonable to expect to find a decent 2 bedroom condo with all the amenities for under $300,000.  Monterey Hills sellers are still hoping for the mid $300,000 where the majority of the condo listings are.  This will explain an average days on the market of the October condo listings of 142 days - over 3 months.  These condos are also listed at an average of $333 per sq. ft. vs. the sold price per sq. ft. of $268.  I don't see the market getting better for these sellers, but amazing opportunities exist for Monterey Hills condo buyers.

Search All Monterey Hills condos and Townhomes for Sale:

Monterey Hills Real Estate Statistics for August through October 2008:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent                 626-627-7107         

So what's going on in Monterey Hills real estate market?  I find it very curious that in the month of Septmeber no townhomes came on the market in Monterey Hills.  New listings of Monterey Hills condos always remained at its lowest at only 2 condos that were listed. 

Inventory, overall, is trending down each month from June to September with the sales at the all time low as well.  Even with the lower unit volume of available condos, we are still looking at 26 week absorption rate.  This means that if only 2 units continue to sell monthly at today's inventory levels, it will take sellers an average of 26 weeks to sell the existing inventory of 12 listings.  Price per square foot ended at $313 and has been around the $300 range for awhile now.

The lowest priced condo in Monterey Hills is in Chadwick Terrace at 4260 Via Arbolada #204 - $258,000.

The highest priced condo in Monterey Hills is in Drake Terrace at 4141 Via Marisol #415 - $439,000.  In my opinion, this condo is extremely overpriced at $391 a sq. ft.  

Monterey Hills Real Estate Market Report - Juen 2008 through September 2008:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here.  These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent  626-627-7107