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Real Estate Activity in South Pasadena California - Home and Condo Sales for July 2009

South Pasadena real estate statistics and housing report for July 2009

Home sales in South Pasadena have been stable over the last few months with 13 single family homes sold in June and July and 11 in May. New listings are in the dozen range each month this summer.

Two new condo complexes went up for sale in July, thus increasing the number of available condos by 200% since June. I have been able to preview the complex on El Centro in the Mission District of South Pasadena. It has a very urban feel and look with open spaces, cement floors and exposed venting. It very much reminds me of the Prado building in Pasadena only on a much smaller scale. Even though it's new construction, in my opinion it's priced a bit high, at $400 to $500 per square foot, for its location right next to the Gold Line and a very spartan feel.

The other complex is at 815 Fairview Avenue also priced in the low to mid $400 per sq. ft. and built in 2009. featuring 1 bedroom with 2 bathrooms.

Given that only 4 condos and tonwhomes out of 22 new listings are resales and priced affordably, the choice for South Pasadena condo buyers is very limited unless you are looking for new construction and are willing to pay a premium.

It's interesting to note that the real estate sales activity has increased dramatically from January to June. Take a look at the chart below:

South Pasadena Homes For Sale vs. Sold Homes

South Pasadena Real Estate Statistics April 2009 through July 2009:

Single Family Residence	Apr-09	May-09	Jun-09	Jul-09
New Listings	18	12	11	14
Total Listings	41	50	41	39
Sales Pending	9	20	19	21
Homes Sold	5	11	13	13
Listings Expired	5	2	0	3
Average Days on the Market	56	61	55	92
Average Price Per Sq. Ft.	$496	$465	$504	$465
Median Selling Price	$953,000	$899,000	$1,205,000	$768,000
Average Selling Price	$843,380	$990,636	$1,197,370	$905,477
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	35.5	19.7	13.7	13.0

Condos and Townhomes	Apr-09	May-09	Jun-09	Jul-09
New Listings	1	4	7	22
Total Listings	12	13	12	34
Sales Pending	1	4	7	7
Homes Sold	1	2	4	3
Listings Expired	3	1	2	0
Average Days on the Market	67	29	34	152
Average Price Per Sq. Ft.	$336	$318	$364	$326
Median Selling Price	$590,000	$451,500	$572,500	$397,500
Average Selling Price	$590,000	$451,500	$576,875	$370,333
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	52.0	28.2	13.0	49.1

Real estate data for South Pasadena from Pasadena Foothill Association of Realtors Multiple Listing Service (ITEC)

See all South Pasadena property in the Multiple Listing Service (MLS) below:

Please visit South Pasadena homes, condos and townhomes for sale for additional property details.

READ MORE:

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 a South Pasadena home, South Pasadena condo or townhome, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.