Here’s the market update for South Pasadena Homes for Sale for the week ending 1/20/14:
It's a Seller’s Market, Here's why:
- 1.5 months supply of homes trending
- 25 Homes available total
# Condos Available: 8 (1 new this week)
# Single Family Homes Available: 17 (4 new this week!)
The 6 month numbers are as follows:
Average Sale Price: $972,106
Median Sale Price: $835,000
Average Days on Market: 48
Average Sale Price to List Price Ratio: 102.35
Of Special Note this week: The speed coming out of the holidays is picking up, not at the pace equal to that in 2013, but noticeable enough given new inventory for the week and 3 new offers accepted for new escrows. With closings down due to the time lag of the holidays 1 month ago (based on assumed 30 day escrow periods), the average sale price is down, while the median remains stable. With remaining unsold inventory from the holidays, now might be a good time for a buyer to get some value out of one of those homes that are not selling. Contact me if guidance is needed for such an approach, but time will be short as activity is picking up!
And that’s the market for South Pasadena Homes for Sale for the week ending 1/20/14
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