Market Update for Pasadena’s CalTech Area Homes for sale for week ending 2/3/14?
CalTech Area Real Estate is a Seller's Market. Here's why:
• 1.5 months supply of homes trending
• 3 Home available (1 new this week)
The 6 month numbers are as follows:
Average Sale Price: $1,218,497
Median Sale Price: $1,045,000
Average Days on Market: 49
Average Sale Price to List Price Ratio: 107.17
Of Special Note this week: One new property hits the market and due to it’s condition and the price, it is expected to sell fast! This is the only change in the CalTech Area Real Estate market for this week. Inventory remains extremely low, but was anticipated to increase by this first week of February, so this poses concerns for buyers if this is really the indicator of the year’s activity in the same way it was last year. It’s good news for CalTech area home sellers as supply will stay low and drive up prices for those that do chose to sell. For buyer’s, as so much of Southern California is going, it will be tough to find any availability. As we move into February, let’s see what time reveals!
And that’s the market for Pasadena’s CalTech Area Homes for Sale for the week ending 2/3/14!
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