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South Pasadena California Real Estate Market Data for March 2009

South Pasadena real estate housing report for March of 2009

South Pasadena home sales in 2008 averaged about 7 homes sold per month. There are even less sales this year so far. Granted, 2009 started out very slow and the real estate market just started picking up last year, but the inventory in South Pasadena is not very exciting. Not a lot of choices and South Pasadenahome buyers looking to buy a home with South Pasadena schools are ending up paying more than they wanted.

March 2009 ended with the average price per square foot per single family South Pasadena home closing at $493 and it's creeping up to the 2008 levels of $510 per sq. ft.

Here are the detailed statistics for January 2009 through March 2009:

Single Family Residence	Jan-09	Feb-09	Mar-09
New Listings	4	12	9
Total Listings	23	31	39
Sales Pending	4	8	8
Homes Sold	4	3	7
Listings Expired	5	2	5
Average Days on the Market	40	60	101
Average Price Per Sq. Ft.	$430	$468	$493
Average Median Price	$720,000	$776,667	$850,000
Average Selling Price	$831,000	$725,000	$987,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	24.9	44.8	24.1

Condos and Townhomes	Jan-09	Feb-09	Mar-09
New Listings	2	5	5
Total Listings	7	15	17
Sales Pending	5	4	1
Homes Sold	4	4	1
Listings Expired	2	1	1
Average Days on the Market	49	119	111
Average Price Per Sq. Ft.	$332	$348	$284
Average Median Price	$487,500	$596,750	$170,000
Average Selling Price	$472,500	$627,500	$170,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	7.6	16.3	73.7

Information gathered from ITEC (Pasadena Foothill Association Multiple Listing Service)

Search all South Pasadena properties on the market below:

South Pasadena real estate market activity with real time updated data can be found on Pasadena California Real Estate Blog's How is the Real estate Market tab. These South Pasadena real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.