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
