Here’s the market update for South Pasadena Homes for Sale for the week ending 1/13/14:
It's a Seller’s Market, Here's why:
- 1.3 months supply of homes trending
- 23 Homes available total
# Condos Available: 8 (1 new this week)
# Single Family Homes Available: 15 (4 new this week!)
The 6 month numbers are as follows:
Average Sale Price: $981,485
Median Sale Price: $835,000
Average Days on Market: 47
Average Sale Price to List Price Ratio: 101.54
Of Special Note this week: Happy New Year! A month over the holidays in South Pasadena does not miss much in the way of real estate, its extremely slow, and this year was no different. Inventory dropped as existing properties sold, and seller’s were distracted by holiday activities instead of going on market, while existing buyers had already seen the existing inventory so there was nothing new to see. This past week activity started to break, with 5 new availabilities (1 is a visual landmark in town), 3 closings and 1 going into escrow. A 6 month history still shows ½ of all home sales occurring at over list and selling in less than a month. As spring develops, this trend will tighten even more. The school based cycle, that drives so much of South Pasadena real estate, is about to begin!
And that’s the market for South Pasadena Homes for Sale for the week ending 1/13/14
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