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South Pasadena Real Estate Market Report - October 2008

South Pasadena real estate housing report for October 2008

South Pasadena real estate is still very much in demand and the homes are holding value. The family atmosphere, wonderful South Pasadena schools and the limited inventory make homes that are prepared for sale and priced well quite in demand.

Single Family Homes in South Pasadena are selling at 94.84% of asking price. Although one home sold $51,000 over asking at 106% of asking.

Condos and townhomes in South Pasadena are selling close to 97% of asking price.

The lowest priced South Pasadena home in October is at 1108 Foothill Street and is listed for $439,000. It is a small (listed as having 755 sq. ft.) 2 bedroom, 1 bath.

The highest priced South Pasadena home is at 1133 Buena Vista Street with 7 bedrooms adn 7 baths and over 7,500 sq. ft. This South Pas estate is listed at $3,600,000.

Read More: South Pasadena City Guide - relocation guide for South Pasadena

Search all South Pasadena properties on the market below:

South Pasadena real estate and housing statistics for August through October 2008:

Single Family Residence	Aug-08	Sep-08	Oct-08
New Listings	8	10	13
Total Listings	26	33	34
Sales Pending	1	9	8
Homes Sold	11	5	5
Listings Expired	3	3	5
Average Days on the Market	119	68	96
Average Price Per Sq. Ft.	$483	$499	$493
Average Median Price	$915,000	$930,000	$940,000
Average Selling Price	$795,273	$1,145,178	$1,037,300
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	10.2	28.6	29.5

Condos and Townhomes	Aug-08	Sep-08	Oct-08
New Listings	3	6	4
Total Listings	15	18	13
Sales Pending	1	5	2
Homes Sold	3	5	4
Listings Expired	4	5	0
Average Days on the Market	77	111	186
Average Price Per Sq. Ft.	$352	$397	$401
Average Median Price	$533,000	$590,500	$733,500
Average Selling Price	$561,000	$637,200	$647,200
Absorption Rate (# of weeks to sell current inventory at present rate of sales)	21.7	15.6	14.1

Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)

CLICK HERE FOR A LIST OF ALL SOUTH PASADENA HOMES FOR SALE (Single Family Residences)

CLICK HERE FOR A LIST OF ALL SOUTH PASADENA CONDOS AND TOWNHOMES FOR SALE

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.

Posted by Irina Netchaev, Pasadena Real Estate Agent.

http://www.pasadenacarealestatehomes.com/0084EF