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Pasadena Real Estate Home Sales Statistics for January 2010

Pasadena real estate housing statistics for January 2010

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.

Pasadena California Houses for Sale vs Sold