South Pasadena Real Estate - Market Activity Report

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A review of home sales and market activity in South Pasadena from January - June 2013, compared to the same period for 2012. Also a look at what the next few months will bring.

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South Pasadena Real Estate - Market Activity Report

  1. 1. South Pasadena Home Sales…. 1st Half 2013 South Pasadena Real Estate sees high demand in 2nd Quarter
  2. 2. January – June 2013 vs 2012 Jan-June ’13 Jan – June ‘12 % Change Median price $ 932,500 $ 870,000 + 7% Units Sold 62 53 + 17% Single Family 6 mos Year to Date
  3. 3. January – March 2013 vs 2012 Jan - Mar ’13 Jan – Mar ‘12 % Change Median price $ 879,000 $ 883,000 - Units Sold 21 23 -9% Single Family 1st Quarter Year To Date
  4. 4. April - June 2013 vs 2012 Apr - Jun ’13 Apr - Jun‘12 % Change Median price $975,000 $790,000 +23 % Units Sold 41 30 +37 % Single Family 2nd Quarter Year to Date
  5. 5. South Pas Market Characteristics  Homes Sold at 103.4% of their asking Price  Limited Availability of Homes for Sale  Mortgage Rates were Rock Bottom in the 2nd Quarter  Improving California Economy  Distressed Property shortage (banks are not foreclosing on delinquent homeowners) What Has Happened
  6. 6. South Pas Market Outlook  Inventory to remain low  Interest Rates are Rising but will remain low by historical standards  Distressed Property to remain non-existent  Increasing Median Prices  Entry price point increasing causing Condo’s & Townhomes prices to increase What to Expect
  7. 7. Has Your Ship Sailed ?  There is still time to take advantage of market opportunities  Prices may be higher, but your home buying dollar is going further, thanks to lower interest rates  As Fall approaches, look for less competition among home buyers Have I missed the best time
  8. 8. Thinking of Selling ?  There is still plenty of Momentum left in this market  South Pasadena Market is less volatile and shows demand inelasticity  See our “10 Keys to a Successful Home Sale” to maximize the value of your home Recommendations - Sellers
  9. 9. If You Plan to Buy…… Buyer Recommendations  Multiple offers will still be the norm  Work with one real estate agent and discuss ways to increase the strength of your offer and how to get it accepted  Offer the seller something of value unique to their situation
  10. 10. Home Prices are UP, Do You know the New Value of Your HOME? Call Us Today! 626-432-4615 Doug & Deena Willis Broker, Owners RE/MAX Property Concierge 266 Monterey Rd. South Pasadena, CA Ph 626-432-4615 CA RE Lic # 01334541 & 01354143

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