Pasadena Real Estate

Those of you that know me, would agree with me that I'm a data geek.  I love numbers especially real estate numbers.  Looking at the past and present home sales performance helps us understand what the future has in store for us.

This month, I thought I'd take you on a historical journey of Pasadena's real estate sales focusing on Single Family Homes only.  Having said this, please note that Pasadena is a huge city with over 145,000 residents and 54,000 housing units based on the 2006 US Census.

As with any real estate transaction, local data speaks more accurately than general information.  So, if you are interested in buying a home in Pasadena or need a more detailed analysis as to what your Pasadena home is worth, just send me a quick email or call for specifics relevant to you.

READ MORE:  Pasadena City Guide

However, below is the general overview of Pasadena real estate market activity which will give you a pretty good sense as to what is happening with our home sales. I focused on the more critical statistics:

1. Average Price of a Home Sold In Pasadena - July of 2007 saw the top of the market at $966,000.

2. Median Price of a Home Sold In Pasadena - Again brings us to July of 2007 where 1/2 the homes sold were under $779,000 and the other 1/2 over $779,000.

3.  Average Price per Square Foot of Homes Sold in Pasadena - Both 2006 and 2007 were at $493.

4.  How long does it take to market and sell a Pasadena home - Lowest # of day was 33 in July of 2005

Pasadena Real Estate Market Performance for July 2000 throuh July 2010:

Some additional statistics/observations:

• Overall, average price per square foot for Pasadena homes increased by 65.2% over the alst 10 years!  Quarter to Quarter (April 2010 to July 2010), the price per square foot remained relatively unchanged.  This means that the summer activities did not give Pasadena home sellers the increase that we usually see during the most busiest real estate period of the year.
• The volume of sales units - homes sold in Pasadena - has decreased by 28.7% from 10 years ago to now.  July of 2000 saw 108 home sales and July of this year, we had 77 Pasadena home sales.  Folks are holding on to their homes and the inventory is still low.  Nice homes in desirable locations are quite a bit in demand and sell fairly quickly.
• In July of 2000, on average homes sold around 98% of asking price.  Last month, Pasadena homes sold around 95% of asking price
• Foreclosures are still not hitting the market in quanitities expected.  Again, July of 2010, shows us that many auctions have been cancelled or delayed in Pasadena.  See the graph below:

As always, I am including a list of homes for sale below. You can also click on the Pasadena California Homes for Sale post for the most up to date list of all available homes.

If you have any questions, you can find me on Twitter @pasadenaviews or just give me a call at 626-629-8439.

Home sales activity in Sierra Madre remained pretty consistent over the last several months.  We are seeing around 10 new home listings coming up for sale and the overall inventory is in the mid 30 home number.

The price per square foot of single family homes has been a bit all over the place.  In May of 2010, the average price per square foot for Sierra Madre ran around $373 and July closed at $423.  However, Sierra Madre is known for its eclectic homes.  Some are very small cottages running under $500,000 and others are beautiful hillside homes with amazing city views.

If you've been looking for a home in Sierra Madre, you have probably run into the fact that inventory is pretty low especially since there are about 5,000 housing units.  The existing 35 available homes for sale represent less than 1% of all available housing.   When you start slicing and dicing these home listings, most buyers realize that Sierra Madre view homes are very hard to find.

Here're some graphs and charts to keep you entertained.  I know you love 'em!

Media Sold Price of Sierra Madre Homes:

Housing Units For Sale/Sold In Sierra Madre:

How Long Does It Take to Sell a Sierra Madre Home?

And, of course... here's a list of available homes for sale.  Or, you can click on the Sierra Madre Homes for Sale link here to see up to date, real time Sierra Madre home listings.

Any questions, give us a call at 626-629-8439 or email us at Info(at)PasadenaViews(dot)com.

Arcadia Real Estate Update

It's been awhile since I ran real estate statistics for my readers on Arcadia California. So... to make up for it, you'll get a ton of data that you can chew on... :)

Let's take a look at a couple of things.  First, the last few months of our regular data below shows that the number of new homes and the overall inventory of units in Arcadia for all types of properties is staying pretty stable. 

Price per square foot of sold single family Arcadia homes is inching up closer to the mid $400 range.  It'll be interesting to see if the price will flat line during the summer or move a bit up.  My guess is that it will remain pretty stable since the inventory is not moving overly quickly.

There has been an increase in sales for both condos and townhomes.  However, the price per square foot moved down a bit.

Arcadia real estate statistics for February 2010 through May 2010:

Longer view Arcadia real estate trends?

I wanted to show you the investment return on Arcadia real estate - all property types - based on a purchase five years ago vs. 1 year ago.  Trendgraphix using the data from the Pasadena Foothill Association of Realtors captures the following information:

1 month			1 year			5 years
	Mar 10	Apr 10	% Change	Apr 09	Apr 10	% Change	Apr 05	Apr 10	% Change
Avg. Active Price	1193	1159	-2.8%	1275	1159	-9.1%	1132	1159	2.4%
Avg. Sold Price	860	999	16.2%	715	999	39.7%	797	999	25.3%

Real Time Arcadia Real Estate Statistics and Home Sales Data:

Information below is provided by Altos Research and will be updated every week as new real estate data for Arcadia California is available.  Feel free to bookmark this post and refer to it often.

Median Price for homes in ARCADIA, CA All ZIP Codes as of May 14, 2010 is $950,000

Inventory for homes in ARCADIA, CA All ZIP Codes as of May 14, 2010 is 196

Average Days on Market for homes in ARCADIA, CA All ZIP Codes as of May 14, 2010 is 96

Median Price per Sqft for homes in ARCADIA, CA All ZIP Codes as of May 14, 2010 is $421

Interested in seeing homes available for sale in Arcadia?

For details on any of the above properties, please visit Arcadia Homes for sale post.

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

PasadenaViews Real Estate Team

Arcadia Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

Irina at PasadenaViews.com

(626)629-VIEW (8439)

Monterey Hills Real Estate Update

It's time to take a look at The Hill - Monterey Hills!  Inventory, unfortunately, is still extremely low.  Let's take a look at the chart below from Trendgraphix documenting the real estate data from Pasadena Foothill Association of Realtors.

It's interesting to note that unit volume went down 56.7% from April of 2007 to April of 2010, from 69 units to only 30 available Monterey Hills properties for sale.

Only a few listings are coming on the market each months and very few sales are closing.

Additional Monterey Hills statistics to consider:

Looking backwards... if you bought a Monterey Hills condo 10 years ago and held on to the property, what kind of returns would you expect to see? Let's take a look below:

Not bad... a nice return of close to 150%.

Here's a look of Monterey Hills homes available for sale now:

And, if you're interested in seeing all the details of these condos and townhomes, please bookmark Monterey Hills condos and townhomes for sale post which is updated every few hours with the most current real estate listing information.

For more information on specific complexes, read more below:

Austin Terrace

Bradley Court - PUDs

Huntington Terrace

Fremont Villas

Linden Heights

Vallejo Villas

PasadenaViews Real Estate Team

Monterey Hills Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

Irina at PasadenaViews.com

(626)629-VIEW (8439)

Monterey Hills condo sales are slowly.... very slowly... rising.  Only 4 closed condo sales last month.  However, the inventory of newly listed condo units is up to 9 last month with the overall volume still staying under 20 properties.

If you are shopping for a Monterey Hills townhome, you have a long wait... nothing is coming up for sale.  Home owners in Monterey Hills are holding on to their condos and townhomes and rent them vs sell them to avoid taking a hit in the selling price.

Since this area is only minutes to downtown LA and is loved by USC Medical students for the convenience to the USC medical center, Pasadena's old town, restaurants and shops, these Pasadena agent condos are quite easy to rent.  Most units are 2 bedrooms and 2 baths and quite a few floor plans have 2 master suites with bedrooms on opposite sides of the living room - great for room mates.

READ MORE:

Top 10 Tips on Buying a condo in Monterey Hills

Here's what the last couple of months of real estate sales look like.

Monterey Hills Condos and Tonwhome Sales Information for 1Q10:

If you are interested in Monterey Hills and would like to get more informaiton about specific Monterey Hills complexes, take a look at these informative articles below:

Austin Terrace

Bradley Court - PUDs

Huntington Terrace

Fremont Villas

Linden Heights

Vallejo Villas

As always, if you have any questions about Monterey Hills real estate or need help with buying a condo, give us a call.  If you are thinking of selling your Monterey Hills condo or townhomes, we have buyers - so please call us to discuss what your condo or townhome is worth.  We're always happy to be of service.

PasadenaViews Real Estate Team

Monterey Hills Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

Irina at PasadenaViews.com

(626)629-VIEW (8439)