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up2date Real Estate Market Report for Pasadena
-February 2009 Home Sales
-Single Family
-Townhomes &
Condominiums
-Housing Charts and Graphs
-Analysis and Commentary

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Pasadena – All Residential Units
Median Price
2009 $435,000
2008 $599,500
The Median Price in
% Change (27%) Pasadena was up from
$429,000 last month
Have Prices Bottomed?

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Number of Homes Sold- All Residential
2009 59 units
Slight increases in
Unit Volumes
2008 46 units
% Change 28%
Average Days on Market
current days on market / cumulative days on market
Slight decreases in
2009 91 / 136
Selling times as well
2008 77 / 101
% Change 18%

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Pasadena – Single Family Units
Median Price
2009 $470,000
2008 $724,250
The Single Family
% Change (35%)
price was down
from $505,000 last
month

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Number of Single Family Homes Sold
2009 41 units
41 units in Feb ‘09
compared to 30 in
2008 26 units
Jan ‘09
% Change 58 %
Average Days on Market
current days on market / cumulative days on market
2009 67 / 115
Average days in
2008 73 / 86
January were 94
% Change 8% days on market

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Current Inventory of Single Family Homes
Number Median Price Days/Mkt
Active 358 $654,000 122
Contingent 40 $573,500 78 / 107
Pending 75 $429,800 69 / 113

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Townhomes & Condominiums
Median Price
2009 $360,000
2008 $440,000
Less demand and
high inventory
% Change (18%)
continues to drive
down prices

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Townhomes & Condominiums
Number of Units Sold
28 units sold in
2009 17 units January ‘09
2008 21 units
Single family homes
% Change -19% Offer better value
Average Days on Market
current days on market / cumulative days on market
2009 131 /165
2008 81 / 118
% Change 61%

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Current Inventory of Townhomes & Condominiums
Number Median Price Days/Mkt
Active 286 $494,000 104
Contingent 21 $464,450 127 / 179
Pending 34 $363,950 111 / 148
Continued pricing
pressure due to
huge inventories

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• Analysis and Forecasts
– The low end <$400,000 is where most of the activity is in Single family homes.
Many bank owned properties are receiving multiple offers as investors and home
buyers find good supplies of inventory.
– Look for prices of condominiums and townhomes to continue their decline. Too
much inventory and Buyers are opting for Single Family homes. Foreclosures
and bank owned townhomes and condominiums are putting pricing pressure on
this market
– We should see a spike in home sales as we approach the traditional selling
season. The just announced home buyer credit of $8000 should give people
incentive
– Rumors indicate that Banks will begin to turn loose of some of their REO
inventory and may become more aggressive in selling distressed properties,
increasing pricing pressure on existing home sellers