South Pasadena Home Sales
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South Pasadena Home Sales

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How is the real estate market performing the first half of the year? With inventory shortages being reported in many markets, is South Pasadena selling more or less homes than last year? Are prices up ...

How is the real estate market performing the first half of the year? With inventory shortages being reported in many markets, is South Pasadena selling more or less homes than last year? Are prices up or down?

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    South Pasadena Home Sales South Pasadena Home Sales Presentation Transcript

    • + Doug Willis, Broker RE/MAX Property Concierge South Pasadena, CA Phone 626-432-4615 How Many Homes Sold ? Prices - Up or Down? What about Price per Square Foot? Jan-June 2012 vs Jan-June 2013
    • + Number of Homes Sold – 6 mos  January – June 2012 53 units  January – June 2013 62 units  % Increase 17% South Pasadena is a small market with only 120 Single Family Home sales recorded last year.
    • + Median price  2012 $ 870,000  2013 $ 932,500  % Increase 7% Median prices provide a much more accurate indicator of value than average prices. The median price in 2012 for South Pas was $870,000. Home prices had peaked by June 2012.
    • + Average price  2012 $1,019,007  2013 $1,069,353  Increase 5%  Why Median vs Average? – if one home sold at a price of $7 million, it can have a dramatic affect when computing average. Since Median looks at the middle of the price range, that same property sale would have little or no impact.
    • + Average price per square foot  2012 $ 477.42  2013 $ 509.45  % Increase 6.7%
    • + Sale price vs asking price  2012 97.9%  2013 102.3% In 2012, if you listed your home for $100,000, it would have sold for $97,900, in 2013 it would sell for $102,300, the result of higher demand.
    • + Average square feet  2012 2104  2013 2146 Average square feet provides a cross check against increasing prices. When prices are on the rise, it provides another measurement to confirm a dollar increase against an increase due to a larger home.
    • + $600,000 & below  2012 13 sold units  2013 7 sold units Entry level homes are becoming a thing of the past as it becomes almost impossible to buy a home for less than $600,000. This year, only 7 homes have been available or have sold for less than $600,000.
    • + $1,000,000 & above  2012 12 homes  2013 28 homes  Increase 133% Homes sold above $1,000,000 are commanding a bigger share of the market as prices increase.
    • + Need more info on South Pas? Call today! Deena & Doug Willis Broker Owners RE/MAX Property Concierge 266 Monterey Rd., Ste B South Pasadena, CA 91030 Ph 626-432-4615 BRE #’s 01334541 & 01354143 Check out 10 Keys for a Successful Home Sale Follow Doug Willis on Google +