Pasadena Real Estate Report - Summer 2009

Pasadena real estate information including statistics and trends for homes for sale during the summer months of 2009

Summer is now over and we're well into our first fall month. Pasadena's real estate activity has truly been on fire during the summer. Many home buyers were out trying to take advantage of the first time home buyer $8,000 tax credit, as well as, the lower home prices.

Some observations:

Single Family home sales volume in Pasadena peaked at 101 homes sold in July and dropped to 65 in September.
Price per square foot of single family homes is stabilizing just under $400 for Pasadena overall.
Pasadena median home price is in the low to mid $600K for single family.
With only a bit more than 4 months of inventory, we're considered to be in a seller's market.
Pasadena condos have done extremely well with average price of sq. ft. rising from the low of $330 to $369.
Pasadena townhome prices have also been on the rise during the summer with an average selling price of $584,885 in September 2009.

Pasadena Real Estate Trends and Data for June through September 2009:

Single Family Residence	Jun-09	Jul-09	Aug-09	Sep-09
New Listings	93	59	56	86
Total Listings	313	276	257	268
Sales Pending	111	111	91	81
Homes Sold	68	101	80	65
Listings Expired	31	22	20	48
Average Days on the Market	193	65	75	83
Average Price Per Sq. Ft.	$408	$376	$374	$390
Median Selling Price	$660,000	$599,000	$645,000	$635,000
Average Selling Price	$881,754	$712,909	$779,146	$715,212
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	19.9	11.8	13.9	17.9

Condos	Jun-09	Jul-09	Aug-09	Sep-09
New Listings	38	48	50	32
Total Listings	152	168	171	153
Sales Pending	44	51	50	51
Homes Sold	39	34	28	33
Listings Expired	29	18	24	16
Average Days on the Market	155	91	91	67
Average Price Per Sq. Ft.	$330	$339	$360	$369
Median Selling Price	$430,000	$459,000	$448,500	$475,000
Average Selling Price	$420,436	$462,626	$457,211	$498,588
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	16.9	21.4	26.5	20.1

Townhomes	Jun-09	Jul-09	Aug-09	Sep-09
New Listings	27	16	16	24
Total Listings	71	71	71	76
Sales Pending	24	23	12	20
Homes Sold	15	20	16	13
Listings Expired	5	5	8	11
Average Days on the Market	118	104	86	76
Average Price Per Sq. Ft.	$340	$332	$349	$397
Median Selling Price	$ 480,000	$ 479,000	$ 474,500	$ 580,000
Average Selling Price	$ 528,200	$ 510,000	$ 498,875	$ 584,885
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	20.5	15.4	19.2	25.3

It is also interesting to take a look at the five year trend of what Pasadena home sellers are pricing their property at and what it is actually selling for. Based on the graph below it seems like the home sellers are a bit unrealistic in recent months and the gap between reality and fantasy pricing has grown.

Pasadena Real Estate For Sale vs Sold - 2004 to 2009

For those of you interested in buying a Pasadena home or are just curious about Pasadena property for sale, please take a look at the Pasadena homes for sale below. Feel free to sign up for a FREE membership to the MLS (Multiple Listing Service) listings by creating a VIP accounts below.

For details on any of the above Pasadena homes, please visit Pasadena homes for sale.

Read More:

Getting More House for your $

9 Stupid Things Buyers do to mess up their home purchase

The fastest way to lose your earnest money deposit

Homes for Sale Information:

South Pasadena City Guide

Pasadena Real Estate Guide

Altadena Foreclosures List

Burbank Foreclosure Home List

Pasadena Foreclosure Home List

South Pasadena Foreclosure Home List

If you are thinking of buying or selling your Pasadena home, condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.