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Monterey Hills California Real Estate Sales - December 2008

Monterey Hills condo and townhome statistics for October through December 2008

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:

Condos	Oct-08	Nov-08	Dec-08
New Listings	1	0	4
Total Listings	10	8	7
Sales Pending	2	1	0
Homes Sold	3	4	2
Listings Expired	4	0	1
Average Days on the Market	75	100	24
Average Price Per Sq. Ft.	$268	$298	$346
Median Selling Price	$280,000	$324,000	$279,500
Average Selling Price	$295,667	$322,000	$279,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	14.4	8.7	15.2

Townhomes	Oct-08	Nov-08	Dec-08
New Listings	1	1	1
Total Listings	1	1	1
Sales Pending	1	0	0
Homes Sold	2	0	1
Listings Expired	0	1	0
Average Days on the Market	74	n/a	8
Average Price Per Sq. Ft.	$285	n/a	$276
Median Selling Price	$467,500	n/a	$390,000
Average Selling Price	$467,500	n/a	$390,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	2.2	n/a	4.3

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

http://www.pasadenacarealestatehomes.com/0093BE

Posted on January 26, 2009 00:22:31

Posted in Monterey Hills, Real Estate Market Reports

Posted by:

Irina Netchaev

Comment from: Jim [Visitor]

· http://snurl.com/9ht46

I pretty much agree that with all the unforseen stuff around the corner such as how the new President will do things and the economy etc people are un willing to buy new homes now and that is hurting the real estate marktet. I think that if real estate companies can find new ways to bring in customers then they will recover faster. For example this company I bought my home with is offering contests to people who register on their website, here's what im talking about: http://snurl.com/9ht46

Permalink January 26, 2009 13:30:33

Comment from: Irina Netchaev [Member]

· http://www.pasadenacarealestatehomes.com

Jim, interesting idea, but I don't think offering contests on the real estate company's site will facilitate extra sales. People will buy homes if they can afford them. Although, it's always fund to enter a contest. :-)

Permalink January 27, 2009 01:55:41

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