Pasadena Real Estate

 

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