Pasadena Real Estate - up2date Market Recap for October
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Pasadena Real Estate - up2date Market Recap for October

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A recap of the Pasadena California Real Estate Market for October '08, including analysis and forecast

A recap of the Pasadena California Real Estate Market for October '08, including analysis and forecast

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Pasadena Real Estate - up2date Market Recap for October Presentation Transcript

  • 1. up 2 date realestate.com up 2 date Real Estate Market Report for Pasadena
    • Pasadena October Home Sales
    • Single Family
    • Townhomes & Condominiums
    • Graphs
    • Analysis
  • 2. up 2 date realestate.com Residential Homes ( condos, townhomes & single family) Median Price 2008 $529,000 2007 $652,500 % Change (19 %) Very little change from the September number of $525,000
  • 3. up 2 date realestate.com Single Family Homes Median Price 2008 $605,500 2007 $710,000 % Change (14.7 %) Down about $50K from the September Median price of $656,000.
  • 4. up 2 date realestate.com Number of Single Family Homes Sold 2008 74 units 2007 35 units % Change 111 % Average Days on Market current days on market / cumulative days on market 2008 86 2007 48 % Change 79 % This is the strongest performance we have seen this year The increased activity has not yet shown up in reduced selling times
  • 5. up 2 date realestate.com Current Inventory of Single Family Homes Number Median Price Days/Mkt Active 329 $699,000 91 Contingent 48 $608,250 108 Pending 64 $480,000 67 77% of the “Pending” sales are below $600,000
  • 6. up 2 date
    • Townhomes & Condominiums
    • Median Price
    • 2008 $436,250
    • 2007 $459,300
    • % Change (5 %)
    realestate.com 87% of the units that were sold were below $600,000
  • 7. up 2 date realestate.com Number of Townhomes/Condo Units Sold 2008 40 units 2007 22 units % Change (81%) Average Days on Market current days on market / cumulative days on market 2008 112 2007 69 % Change 62% This category which has been negative to flat is beginning to show some momentum Only a very small change from last month’s number of 118
  • 8. up 2 date realestate.com Current Inventory Of Townhomes & Condominiums Number Median Price Days/Mkt Active 226 $499,000 109 Contingent 20 $407,250 94 Pending 36 $399,000 89 Due to the large number of units on the market we are still seeing pricing pressure
  • 9. up 2 date realestate.com
  • 10. up 2 date realestate.com
  • 11. up 2 date realestate.com
  • 12. up 2 date realestate.com Summary & Outlook for the Pasadena Real Estate Market -Home sales are picking up, however if you are trying to sell your home this may not be good news as most of the action is in the low end <$600.0 and bank owned or short sale properties. -The bottom doesn’t seem to be near as most of the properties in escrow are exhibiting lower prices than what has previously sold. -In the Single Family market, prices between $700K - $1,000M are very weak. The market is showing strength in the low end and high end. Homes in the middle price ranges are slow to sell. -Look for lower median prices in the December and January. Home sales will be concentrated in the low end with bargain hunters willing to buy at a normally slow time of the year. .