Pasadena Real Estate

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