Pasadena Home August Home Sales
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Pasadena Home August Home Sales

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A recap of the Pasadena, CA real estate market with analysis and commentary

A recap of the Pasadena, CA real estate market with analysis and commentary

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Pasadena Home August Home Sales Pasadena Home August Home Sales Presentation Transcript

    • Pasadena August2009 Home Sales
    • Single Family
    • Townhomes & Condominiums
    • Housing Charts and Graphs
    • Analysis Commentary
    up2date
    realestate.com
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    realestate.com
    Pasadena – All Residential Units
    Median Price
    2009 $570,000
    2008 $572,500
    % Change (-)
    Home prices continue to show monthly gains bouncing off of their January 2009 lows
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    realestate.com
    Number of Homes Sold- All Residential
    2009 123 units
    2008 108units
    % Change 14%
    Average Days on Market
    current days on market / cumulative days on market
    2009 73 / 71
    2008 74/ 144
    % Change -%
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    realestate.com
    Pasadena – Single Family Units
    Median Price
    2009 $640,000
    2008 $650,000
    % Change (1.5%)
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    Number of Single Family Homes Sold
    2009 83 units
    2008 70units
    % Change 18%
    Average Days on Market
    current days on market / cumulative days on market
    2009 73 / 73
    2008 79/ 104
    % Change ( 7.5 %)
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    realestate.com
    Current Inventory of Single Family Homes
    Number Median Price Days/Mkt
    Active 288 $757,500 110 / 100
    Contingent 62$569,000 117/ 94
    Pending 78$459,45085/ 51
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    Townhomes & Condominiums
    Median Price
    2009 $465,000
    2008 $451,200
    % Change 3 %
    realestate.com
    Big jump in Condo sales prices as higher priced units are finally beginning to sell
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    Townhomes & Condominiums
    realestate.com
    Number of Units Sold
    2009 40units
    2008 39 units
    % Change 2.5 %
    Average Days on Market
    current days on market / cumulative days on market
    2009 77/ 73
    2008 72/ 208
    % Change 7%
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    realestate.com
    Current Inventory of Townhomes & Condominiums
    Number Median Price Days/Mkt
    Active 204$539,500102 / 92
    Contingent 33$379,900122 / 95
    Pending 69$429,00061/ 36
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    Analysis and Forecasts
    Homes sales in August (units) fell from their highs in July. However that is not uncommon as the summer selling season takes a break
    As predicted, the median price finally stabilized on a 12 month period (August 09 vs August 08)
    Monthly inventory supply is about 5 months on single family and about 7.5 months on townhomes and condominiums
    There are still large numbers of homes (single family & condos) in escrow. Look for inventory to fall further in the next couple of months.
    Congress is considering expanding or reinstating the first time homebuyer credit of $8000 set to expire in November
    It also appears that interest rates will remain at very desirable levels at least through the first quarter of 2010.
    Charts do not reflect merged data from MRMLS into I-Tech)