Market Update for Pasadena's CalTech Area Homes for Sale for 3/4/13

Market Update for Pasadena’s CalTech Area Homes for sale for week ending 3/4/13?

CalTech Area Real Estate is a Seller's Market. Here's why:

•     1.5 months supply of homes trending

•     7 Homes available (2 new this week)

The 6 month numbers are as follows:

Average Sale Price: $824,380

Median Sale Price: $733,250

Average Days on Market: 68

Average Sale Price to List Price Ratio: 101.40

Of Special Note this week:  2 properties come on the market, 2 properties sell!  The shortage of inventory doesn’t change. The two new properties that did come up were wonderful – one is a warm Spanish that is a great value at list price (will likely go over), and the other an architecturally notable English designed by George Brigham. Both properties are signature CalTech area examples. With 16 of the last 26 sales at or above list price, this bodes well for these 2 new availabilities.

And that’s the market for Pasadena’s CalTech Area Homes for Sale for the week ending 3/4/13!