As expected, the volume of sales has increased dramatically from April to May.
Pasadena home sales increased by 20% from April and homes under contract are 23% higher. Average selling price increased a bit as well. Close to 100 new home listings came up on the market, but the inventory is still a bit under 300 homes.
Here's a chart from Altos Research group with the historical look at Median prices of Pasadena homes:
Pasadena Real Estate statistics for February 2009 through May 2009 (including condos, townhomes and houses):
| Single Family Residence | Feb-09 | Mar-09 | Apr-09 | May-09 |
| New Listings | 86 | 80 | 83 | 97 |
| Total Listings | 305 | 286 | 314 | 297 |
| Sales Pending | 57 | 78 | 95 | 117 |
| Homes Sold | 37 | 57 | 64 | 77 |
| Listings Expired | 51 | 36 | 34 | 35 |
| Average Days on the Market | 120 | 93 | 109 | 150 |
| Average Price Per Sq. Ft. | $348 | $349 | $369 | $364 |
| Average Selling Price | $548,151 | $687,300 | $638,835 | $695,670 |
| Median Selling Price | $470,000 | $542,500 | $550,000 | $565,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 35.7 | 21.7 | 21.3 | 16.7 |
| Condos | Feb-09 | Mar-09 | Apr-09 | May-09 |
| New Listings | 46 | 44 | 36 | 47 |
| Total Listings | 205 | 168 | 148 | 162 |
| Sales Pending | 29 | 23 | 30 | 56 |
| Homes Sold | 13 | 28 | 25 | 20 |
| Listings Expired | 19 | 25 | 23 | 33 |
| Average Days on the Market | 177 | 136 | 278 | 116 |
| Average Price Per Sq. Ft. | $325 | $315 | $344 | $324 |
| Average Selling Price | $342,577 | $391,946 | $405,000 | $389,550 |
| Median Selling Price | $337,000 | $337,250 | $330,000 | $360,500 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 68.3 | 26.0 | 25.7 | 35.1 |
| Townhomes | Feb-09 | Mar-09 | Apr-09 | May-09 |
| New Listings | 22 | 21 | 15 | 16 |
| Total Listings | 83 | 77 | 70 | 61 |
| Sales Pending | 17 | 13 | 18 | 33 |
| Homes Sold | 5 | 18 | 8 | 17 |
| Listings Expired | 17 | 6 | 8 | 18 |
| Average Days on the Market | 135 | 173 | 162 | 112 |
| Average Price Per Sq. Ft. | $342 | $338 | $346 | $317 |
| Average Selling Price | $ 455,200 | $ 494,583 | $442,710 | $ 450,118 |
| Median Selling Price | $ 375,000 | $ 485,000 | $413,340 | $ 400,000 |
| Absorption Rate (# of weeks to sell current inventory at present rate of sales) | 71.9 | 18.5 | 37.9 | 15.5 |
Real estate data gathered from ITEC (Pasadena Foothill Association of Realtors)
Interested in seeing which homes are available for sale? The homes below are updated real time.
For more property details, please visit Pasadena homes and condos for sale.
Pasadena foreclosures - homes owned by banks - can be found below:
Property details for Pasadena foreclosed homes are found at the Pasadena Foreclosure homes for sale post.
READ MORE:
Pasadena Foreclosure Home List
South Pasadena Foreclosure Home List
IRINA NETCHAEV & ASSOCIATES
Pasadena Real Estate Agents
Pasadena, California
