pasadena homes march up2date sales report
DESCRIPTION
The Pasadena Residential Housing Market - March Sales Report is analyzed by units, median prices and categoryTRANSCRIPT
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up2date Real Estate Market Report for Pasadena
- March 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 $475,000
2008 $588,750
% Change (19%) This months number was a big increase over last months median price of
$435,000
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Number of Homes Sold- All Residential
2009 98 units
2008 76 units
% Change 28%
Average Days on Marketcurrent days on market / cumulative days on market
2009 75 / 118
2008 57 / 110
% Change 31%
Good sign for March
Selling times are beginning to come
down
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Pasadena – Single Family Units
Median Price
2009 $567,500
2008 $660,000
% Change (14%)Huge rebound from last month’s number
of $470,000
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Number of Single Family Homes Sold
2009 58 units
2008 43 units
% Change 35 %
Average Days on Marketcurrent days on market / cumulative days on market
2009 51 / 93
2008 62 / 146
% Change (17%)
Increased unit activity …..
Means fewer days on market
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Current Inventory of Single Family Homes
Number Median Price Days/Mkt
Active 346 $667,000 95
Contingent 104 $498,500 68 / 87
Pending 58 $577,800 76 / 100
up2dateTownhomes & Condominiums
Median Price
2009 $362,900
2008 $470,000
% Change (23%)
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Condo/Townhome prices finally held steady month to
month
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Townhomes & Condominiums
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Number of Units Sold
2009 41 units
2008 31 units
% Change 32%
Average Days on Market
current days on market / cumulative days on market
2009 112 /154
2008 56 / 71
% Change 100%
Almost 2.5 times the February volume
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Current Inventory of Townhomes & Condominiums
Number Median Price Days/Mkt
Active 266 $499,975 107
Contingent 40 $359,500 84 / 139
Pending 28 $423,000 97 / 107
Prices appear to be rising
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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $400,000
$425,000
$450,000
$475,000
$500,000
$525,000
$550,000
$575,000
$600,000
$625,000
$650,000
$675,000
$700,000
$725,000
Pasadena Annual Median Home Prices
2004
2005
2006
2007
2008
2009
Big February –March increase
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Jan
Fe
bM
ar
Ap
rM
ay
Jun
Jul
Au
gS
ep
Oct
No
vD
ec
Jan
Fe
bM
ar
Ap
rM
ay
Jun
Jul
Au
gS
ep
Oct
No
vD
ec
Jan
Fe
bM
ar
Ap
rM
ay
Jun
Jul
Au
gS
ep
Oct
No
vD
ec
Jan
Fe
bM
ar
Ap
rM
ay
Jun
Jul
Au
gS
ep
Oct
No
vD
ec
Jan
Fe
bM
ar
Ap
rM
ay
Jun
Jul
Au
gS
ep
Oct
No
vD
ec
Jan
Fe
bM
ar
2004 2005 2006 2007 2008
$425,000
$475,000
$525,000
$575,000
$625,000
$675,000
$725,000
$775,000
Pasadena Median Home Prices
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Jan
Feb Mar Apr
May Ju
n Jul
Aug Sep Oct
Nov Dec0
50
100
150
200
250
Pasadena Monthly Unit Home Sales
2004 2005 2006 2007 2008 2009
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Analysis and Forecast• March was one of the most positive months we have seen in the last 1.5
years• Unit sales and median prices staged a big rally compared to February ’09• Condo/Townhome units which have lagged behind Single Family showed
big gains• Homes in escrow confirm that prices are on the rise• Selling times for all properties are decreasing
Outlook
- Sales numbers for April indicate early market increases
- News reports out this week say Banks will begin the foreclosure process as grace periods and Govt programs have been announced
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