How's the market in Pasadena's San Rafael Hills Real Estate area week ending 10/2/11?
San Rafael Hills Real Estate is a Seller’s Market. Here's why:
· 2.25 months supply of homes trending
· 9 Homes available (1 New this week)
The 6 month numbers are as follows:
Average Sale Price: $763,460
Median Sale Price: $750,000
Average Days on Market: 56
Average Sale Price to List Price Ratio: 99.21
Of Special Note this week: Supply is Down!! Are we seeing a contraction of the market preparing for an additional increase in demand? Perhaps, as this is the general trend in the West San Gabriel Valley. Agents galore are talking about the lack of choice for buyers right now. Specifically in the San Rafael Hills, this is partially due to sellers that did not want to respond to the market demand, withdrew their properties from the market, or simply leased the home. Nothing has closed since the 21st and only 4 closed in September. This may reflect the typical August dip in activity, and buyers waited til September as there are 6 properties in escrow, all of which entered escrow during the 9th month of the year. One of those homes will be interesting to watch, the wood sided home on La Loma, as we’ll have to see how the new owner renovates this unusual and interesting home.
That’s the market in Pasadena's San Rafael Hills Real Estate area week ending 10/2/11
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