Pasadena CA Real Estate

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):

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http://www.pasadenacarealestatehomes.com/00990F

San Marino's real estate prices have always been driven by their top rated public schools, a small knit community and close proximity to Pasadena and downtown LA.  As expected, San Marino real estate activity has stayed strong even in the down market and as Pasadena's real estate started picking up, San Marino housing market immedicately followed.

Inventory of homes remained pretty much the same last month, but the sales activity has picked up significantly and so did the price per square foot that home buyers are willing to pay.  Take a look at the data below.

 

San Marino Real Estate Statistics for February through May 2009:

 

Single Family Residence	Feb-09	Mar-09	Apr-09	May-09
New Listings	13	18	14	15
Total Listings	30	38	35	39
Sales Pending	4	9	12	16
Homes Sold	4	1	10	14
Listings Expired	1	6	4	5
Average Days on the Market	126	29	67	49
Average Price Per Sq. Ft.	$631	$521	$526	$585
Median Selling Price	$2,049,000	$1,738,000	$1,477,500	$1,649,000
Average Selling Price	$2,147,333	$1,738,000	$1,710,300	$1,863,057
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	32.5	164.7	15	15

Search all San Marino homes for sale - live feed from the Multiple Listing Service below:

For more property detail, please visit San Marino Homes for Sale post.

READ MORE:

San Marino City Guide

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

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

http://www.pasadenacarealestatehomes.com/009845

The inventory of homes, condos and townhomes in South Pasadena is still very low and the demand is rising.  Home buyers looking to get into a South Pasadena condo or townhome have very few choices and even the property located next to the Gold Line tracks went into escrow with mutliple offers.  What does it mean to home buyers?  If you see a home listing that you're interested in, call your real estate agent and set up an appointment to see it quickly.

South Pasadena home sellers just need to continue to price their homes correctly, prepare their property for the market by staging it and sit back to review the purchase offers as they start rolling in.

Banks are still holding on to their foreclosures and even though there is a potential of about a handful of foreclosures hitting the South Pasadena market over the next several months, the number of home buyers is still far outweighs the number of South Pas home sellers.

South Pasadena real estate statistics for February 2009 through May 2009:

Single Family Residence	Feb-09	Mar-09	Apr-09	May-09
New Listings	12	9	18	12
Total Listings	31	39	41	50
Sales Pending	8	8	9	20
Homes Sold	3	7	5	11
Listings Expired	2	5	5	2
Average Days on the Market	60	101	56	61
Average Price Per Sq. Ft.	$468	$493	$496	$465
Median Selling Price	$776,667	$850,000	$953,000	$899,000
Average Selling Price	$725,000	$987,000	$843,380	$990,636
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	44.8	24.1	35.5	19.7
Condos and Townhomes	Feb-09	Mar-09	Apr-09	May-09
New Listings	5	5	1	4
Total Listings	15	17	12	13
Sales Pending	4	1	1	4
Homes Sold	4	1	1	2
Listings Expired	1	1	3	1
Average Days on the Market	119	111	67	29
Average Price Per Sq. Ft.	$348	$284	$336	$318
Median Selling Price	$596,750	$170,000	$590,000	$451,500
Average Selling Price	$627,500	$170,000	$590,000	$451,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	16.3	73.7	52.0	28.2

Real estate statistics above from Pasadena Foothill Association of Realtors (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

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.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

http://www.pasadenacarealestatehomes.com/009841

 

Do you remember the commercial?  Where is the beef?  Inventory in South Pasadena is sort of like that especially when it comes to South Pasadena condos and townhomes.

The pendulum is swinging very quickly to a buyer's market in South Pasadena and most of the neighborhoods in and around Pasadena.  Every offer that I have written in the last several weeks encountered a multiple offer situation.  And, when I say multiple offers, I mean multiple offers!  Unfortunately, we're seeing buyers out in force and the minimum number of other home buyers that my clients had to compete against was four, maximum so far this month was 28!  Although, I am happy to say that my buyers did beat out the other 27 and secured the home for themselves - yeah!

South Pasadena for the month of April did have 18 new homes listed, but the inventory is still holding at only 41 available housing units.  Condos and townhomes in South Pasadena are only at 12 available - not much selection. 

We are anxiously waiting for the foreclosure inventory which hopefully will be released by banks shortly.  Keep checking back... real estate market is changing daily.

 

South Pasadena real estate statistics for January 2009 through April 2009:

 

Single Family Residence	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	4	12	9	18
Total Listings	23	31	39	41
Sales Pending	4	8	8	9
Homes Sold	4	3	7	5
Listings Expired	5	2	5	5
Average Days on the Market	40	60	101	56
Average Price Per Sq. Ft.	$430	$468	$493	$496
Average Median Price	$720,000	$776,667	$850,000	$953,000
Average Selling Price	$831,000	$725,000	$987,000	$843,380
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	24.9	44.8	24.1	35.5
Condos and Townhomes	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	2	5	5	1
Total Listings	7	15	17	12
Sales Pending	5	4	1	1
Homes Sold	4	4	1	1
Listings Expired	2	1	1	3
Average Days on the Market	49	119	111	67
Average Price Per Sq. Ft.	$332	$348	$284	$336
Average Median Price	$487,500	$596,750	$170,000	$590,000
Average Selling Price	$472,500	$627,500	$170,000	$590,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	7.6	16.3	73.7	52.0

 

Here's a nice visual of what's going on with South Pasadena prices from Altos Research:

READ MORE: South Pasadena Five Year Real Estate Review

To search for homes in South Pasadena, take a look at the listings below:

 

 

For South Pasadena property details, please visit South Pasadena homes for sale and South Pasadena Condos for Sale.

 

For detailed Monterey Hills property information, please visit Monterey Hills condos for sale.

For weekly updates on South Pasadena real estate market activity, please feel free to request market analysis reports with detailed information by going to "How is the Market" section of this real estate site . These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

 

 

Read More:

South Pasadena City Guide

Take advantage of the $8,000 tax credit

Considering new construction? Don't miss $100 million tax credit

Property Title Insurance?  Learn all about it!

Pasadena Real Estate Guide

 

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

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/0097DB

As much as Pasadena's real estate market is on the rise, Monterey Hills real estate is still depressed.  Inventory of condos and townhomes is still non-existent given that there are close to 4,000 housing units on the hill.  Condo listings that are there are sitting and not seeling.  Price per square foot for Monterey Hills Condo sales dropped to mid $200s - about a 17% drop since 2008.

Monterey Hills real estate statistics for January through April 2009:

Condos	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	2	1	3	3
Total Listings	5	7	6	6
Sales Pending	1	3	3	5
Homes Sold	2	1	3	2
Listings Expired	3	0	0	2
Average Days on the Market	23	242	64	38
Average Price Per Sq. Ft.	$277	$303	$265	$254
Median Selling Price	$310,000	$325,725	$250,000	$269,000
Average Selling Price	$310,000	$325,725	$276,300	$269,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	10.8	30.3	8.7	7
Townhomes	Jan-09	Feb-09	Mar-09	Apr-09
New Listings	1	2	1	0
Total Listings	1	3	3	2
Sales Pending	0	1	1	0
Homes Sold	0	1	0	1
Listings Expired	0	1	0	0
Average Days on the Market	n/a	89	n/a	57
Average Price Per Sq. Ft.	n/a	$268	n/a	$270
Median Selling Price	n/a	$550,000	n/a	$386,000
Average Selling Price	n/a	$550,000	n/a	$386,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	n/a	13.0	n/a	9

 

Data above from ITEC (Pasadena Foothill Association of Realtors)

Interested in seeing available Monterey Hills condos and townhomes? Below is "real time" multiple listing service information for your perusal:

 

For detailed Monterey Hills property information, please visit Monterey Hills condos for sale.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

 

 

Read More:

Pasadena City Guide

Take advantage of the $8,000 tax credit

Considering new construction? Don't miss $100 million tax credit

Property Title Insurance?  Learn all about it!

 

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

 

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

 

 

http://www.pasadenacarealestatehomes.com/0097AD