monterey hills - Pasadena CA Real Estate Monterey Hills

Monterey Hills is a well hidden secret. Set right next to Pasadena, and bordered by South Pasadena, Highland Park and El Sereno, most people living in Pasadena know nothing about this area unless theyre fortunate to drive through it by accident or have a friend that lives there.

If you take Pasadena Freeway, 110 and exit Via Marisol, take a right turn, past the stop light, you will head up a rolling hill which will take you through Monterey Hills. Most complexes are on Via Marisol itself, with some on Via Arbolada and Via Colina.

The location is superb - conveniently located only 7 miles from downtown LA (freeway or streets), about 10 minutes from Old Town Pasadena and minutes away from 110, 101, 10, 134, 5 and 210 freeways.

Monterey Hills community consists of mainly condo and townhome complexes, although a couple of PUDs (Planned Unit Developments) have been built in the last several years. Most of the units were built by J.D. Carley and Associates in the early to mid 1980s.

Monterey Hills is known to be home for professionals working in downtown LA, USC students, USC and Kaiser hospital staff. It is pet friendly and even has a park for dogs.

Its truly a great place to live and wonderful for investment since rentals are always in demand in Monterey Hills.

CLICK HERE FOR A LIST ALL CONDOS AND TOWNHOMES FOR SALE

Monterey Hills Condos and Townhomes - Real Estate Market Update

Monterey Hills real estate is not showing signs of recovery

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.

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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

Posted on May 21, 2009 08:01:12

Posted in Monterey Hills, Real Estate Market Reports

Posted by:

Irina Netchaev

Monterey Hills California - Real Estate Sales and Statistics for March 2009

Inventory and statistics information for Monterey Hills condos and townhomes

If you are a buyer looking for condos in Monterey Hills, you are totally out of luck! There is no inventory!!!

Monterey Hills condos have always been a great investment and are easy to rent due to its proximity to USC Medical Center and downtown LA. Smart home owners are holding on to their investments and waiting to sell since the property values lost about 10% in equity over the last six months. On average Monterey Hills condos were selling at about $300 per sq. ft. and have been fluctuating around $270 or so.

If you don't have to sell, why should you when you can easily rent and wait for the real estate market to turn around! We are seeing multiple offers and lack of inventory all over Pasadena and South Pasadena and Monterey Hills is right behind these neighborhoods.

In March 2009, Monterey Hills had only 6 condos for sale and 1 townhome. Pretty amazing considering that there are over 1780 housing units on the hill.

You can still get a 2 bedroom, 2 bath condo for only $239,000 and be next to South Pasadena and Pasadena. Just take a look at the condos in Monterey Hills under $300,000.

Curious to see last month's Monterey Hills report?

Here's what the Monterey Hills Real Estate Statistics are looking like for January through March 2009:

Monterey Hills
Condos	Jan-09	Feb-09	Mar-09
New Listings	2	1	3
Total Listings	5	7	6
Sales Pending	1	3	3
Homes Sold	2	1	3
Listings Expired	3	0	0
Average Days on the Market	23	242	64
Average Price Per Sq. Ft.	$277	$303	$265
Median Selling Price	$310,000	$325,725	$250,000
Average Selling Price	$310,000	$325,725	$276,300
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	10.8	30.3	8.7

Townhomes	Jan-09	Feb-09	Mar-09
New Listings	1	2	1
Total Listings	1	3	3
Sales Pending	0	1	1
Homes Sold	0	1	0
Listings Expired	0	1	0
Average Days on the Market	n/a	89	n/a
Average Price Per Sq. Ft.	n/a	$268	n/a
Median Selling Price	n/a	$550,000	n/a
Average Selling Price	n/a	$550,000	n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	n/a	13.0	n/a

Information gathered from ITEC (Pasadena Foothill Multiple LIsting Service)

Search for available Monterey Hills condos and townhomes:

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

http://www.pasadenacarealestatehomes.com/009668

Posted on April 19, 2009 06:14:01

Posted in Monterey Hills, Real Estate Market Reports

Posted by:

Irina Netchaev

2 comments »

Monterey Hills Condos: Real Estate Market Report for February 2009

Monterey Hills inventory is down again for February 2009

Monterey Hills inventory of condos and townhomes is becoming non-existent. Considering that there are close to 1,800 housing units on the hill, only 7 condos and 3 townhomes were available for sale in February. 2008 saw only 36 Monterey Hills condos and townhomes sold - about 3 a month. That number was significantly lower from just 3 years ago of 99 sales in 2005.

Monterey Hills has always been a great investment for property owners looking to rent their units. The proximity to USC and downtown LA makes these condos easy to rent. This could explain the decreased number of sales as owners are taking advantage of the easy rentals and holding on to their property until the market turns around.

Here are statistics for Monterey Hills Real Estate for December 2008 through February 2009:

Condos	Dec-08	Jan-09	Feb-09
New Listings	4	2	1
Total Listings	7	5	7
Sales Pending	0	1	3
Homes Sold	2	2	1
Listings Expired	1	3	0
Average Days on the Market	24	23	242
Average Price Per Sq. Ft.	$346	$277	$303
Median Selling Price	$279,500	$310,000	$325,725
Average Selling Price	$279,500	$310,000	$325,725
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	15.2	10.8	30.3

Townhomes	Dec-08	Jan-09	Feb-09
New Listings	1	1	2
Total Listings	1	1	3
Sales Pending	0	0	1
Homes Sold	1	0	1
Listings Expired	0	0	1
Average Days on the Market	8	n/a	89
Average Price Per Sq. Ft.	$276	n/a	$268
Median Selling Price	$390,000	n/a	$550,000
Average Selling Price	$390,000	n/a	$550,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	4.3	n/a	13.0

Information gathered from ITEC (Pasadena Foothill Multiple LIsting Service)

Search for available Monterey Hills condos and townhomes:

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

http://www.pasadenacarealestatehomes.com/009573

Posted on March 15, 2009 23:29:32

Posted in Monterey Hills, Real Estate Market Reports

Posted by:

Irina Netchaev

Monterey Hills Condos and Townhomes Report for January 2009

Monterey Hills housing report for November 2008 through January 2009

Monterey Hills condo and townhome inventory is almost non-existent in January. Two new condos came up on the market and two condos closed escrow. Only one townhome is available for sale on the hill.

Considering there are 21 condo complexes with close to 1,800 condo and townhome units, the supply of condos isn't quite there. The demand is not quite there as well with price per square foot falling to $277.

It'll be interesting to track the developments on the hill over the next few months. In the meantime, here're Monterey Hills statistics for the last three months:

Monterey Hills
Condos	Nov-08	Dec-08	Jan-09
New Listings	0	4	2
Total Listings	8	7	5
Sales Pending	1	0	1
Homes Sold	4	2	2
Listings Expired	0	1	3
Average Days on the Market	100	24	23
Average Price Per Sq. Ft.	$298	$346	$277
Median Selling Price	$324,000	$279,500	$310,000
Average Selling Price	$322,000	$279,500	$310,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	8.7	15.2	10.8

Townhomes	Nov-08	Dec-08	Jan-09
New Listings	1	1	1
Total Listings	1	1	1
Sales Pending	0	0	0
Homes Sold	0	1	0
Listings Expired	1	0	0
Average Days on the Market	n/a	8	n/a
Average Price Per Sq. Ft.	n/a	$276	n/a
Median Selling Price	n/a	$390,000	n/a
Average Selling Price	n/a	$390,000	n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	n/a	4.3	n/a

Search for available Monterey Hills condos and townhomes:

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

http://www.pasadenacarealestatehomes.com/0094BA

Posted on February 16, 2009 23:11:56

Posted in Monterey Hills, Real Estate Market Reports

Posted by:

Irina Netchaev

2 comments »

Monterey Hills California Real Estate Sales - December 2008

Monterey Hills condo and townhome statistics for October through December 2008

Monterey Hills condos and townhomes are definitely feeling the downturn in the economy. Only 2 Monterey Hills condos and 1 townhome sold in December. The listing inventory is very low as well. Less than a dozen properties are available for sale. Take a look at the real estate statistics for the last quarter of 2008 below.

Monterey Hills Real Estate Statistics for October 2008 to December 2008:

Condos	Oct-08	Nov-08	Dec-08
New Listings	1	0	4
Total Listings	10	8	7
Sales Pending	2	1	0
Homes Sold	3	4	2
Listings Expired	4	0	1
Average Days on the Market	75	100	24
Average Price Per Sq. Ft.	$268	$298	$346
Median Selling Price	$280,000	$324,000	$279,500
Average Selling Price	$295,667	$322,000	$279,500
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	14.4	8.7	15.2

Townhomes	Oct-08	Nov-08	Dec-08
New Listings	1	1	1
Total Listings	1	1	1
Sales Pending	1	0	0
Homes Sold	2	0	1
Listings Expired	0	1	0
Average Days on the Market	74	n/a	8
Average Price Per Sq. Ft.	$285	n/a	$276
Median Selling Price	$467,500	n/a	$390,000
Average Selling Price	$467,500	n/a	$390,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	2.2	n/a	4.3