In reviewing the numbers of home sales in Pasadena California for January 2010 and comparing it to January 2009, the stats that jump out at me are:

Pasadena Single Family Houses for Sale

  • The inventory is a bit lower and it takes a lot less time to sell a home in Pasadena this year than last.
  • Price per square foot of sold homes is actually higher this year than last.
  • Even though there's less inventory, almost twice as many units sold in January of this year than last.
  • And, fewer home listings expired.

Pasadena Condos for Sale

  • Again less inventory this year, but significantly higher number of sales - in January of 2009, only 5 condos sold and 33 in January of 2010.
  • Price per sq. ft. of sold condos is a bit lower at $367 vs. $379
  • Absorption rate is only 19.6 weeks in 2010 vs 158 weeks in 2009

Pasadena Townhouses for Sale

  • A lot more new townhome listings this January than last year. However, the total number of units is consistent at 67.
  • Only 4 townhomes sold in January of 2010 vs 11 in 2009
  • Price per square foot is significantly higher and is over $400. This is most likely driven by a small number of sales. That number will come down in February as volume of sales rises.
Single Family Residence Jan-09 Nov-09 Dec-09 Jan-10
New Listings 81 53 45 67
Total Listings 239 226 204 207
Sales Pending 31 67 65 61
Homes Sold 28 69 68 48
Listings Expired 48 36 53 22
Average Days on the Market 130 67 84 87
Average Price Per Sq. Ft. $333 $368 $330 $355
Median Selling Price $505,000 $620,000 $810,000 $531,500
Average Selling Price $548,981 $714,001 $729,829 $664,954
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 37.0 14.2 13.0 18.7
Condos Jan-09 Nov-09 Dec-09 Jan-10
New Listings 44 24 23 56
Total Listings 183 172 143 149
Sales Pending 2 35 29 33
Condos Sold 5 29 31 33
Listings Expired 24 17 24 37
Average Days on the Market 113 86 67 79
Average Price Per Sq. Ft. $379 $377 $369 $367
Median Selling Price $207,450 $485,000 $398,000 $413,000
Average Selling Price $427,950 $491,121 $474,298 $414,088
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 158.6 25.7 20.0 19.6
Townhomes Jan-09 Nov-09 Dec-09 Jan-10
New Listings 8 14 11 26
Total Listings 67 67 54 67
Sales Pending 6 23 12 2
Townhomes Sold 11 15 27 4
Listings Expired 8 4 20 0
Average Days on the Market 115 59 67 65
Average Price Per Sq. Ft. $349 $397 $373 $421
Median Selling Price $ 462,500 $ 520,000 $ 545,000 $ 503,500
Average Selling Price $ 436,991 $ 539,267 $ 585,007 $ 504,250
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 26.4 19.4 8.7 72.6

Here's a nice visual of Pasadena SFR (houses) inventory. As you can see the number of houses for sale is half of what it was in November of 2008. That has been one of the challenges for real estate agents and home buyers in 2009 - lack of inventory. However, the number of Pasadena homes in the foreclosure process is quite high. However, as lenders are taking back these homes, they're holding on to the inventory and the foreclosure homes are very slowly trickling in to the market place.

READ MORE: Pasadena California Foreclosure Statistics and Forecast

Pasadena California Houses for Sale vs Sold

Looking for a Pasadena Home for Sale? Here's a list of Pasadena homes via direct feed from the MLS:

For more information, take a look at Pasadena home details here.

IRINA NETCHAEV & ASSOCIATES

PasadenaViews Real Estate Team

Pasadena Real Estate Agents

Pasadena, California

Email Irina

(626)629-VIEW (8439)