Here’s the market update for South Pasadena Homes for Sale for the week ending 9/21/14:
It's a Seller’s Market, Here's why:
- 2.8 months supply of homes trending
- 39 Homes available total
# Condos Available: 11 (0 new this week)
# Single Family Homes Available: 28 (3 new this week)
The 6 month numbers are as follows:
Average Sale Price: $1,043,071
Median Sale Price: $983,000
Average Days on Market: 40
Average Sale Price to List Price Ratio: 104.42
Of Special Note this week: Despite a general Pasadena area appearance that the market has slowed in it’s pace of increase, South Pasadena has remained stable, back to at least July! No change in inventory; a slight increase in supply; no real change in price, either median or average; and the pace and sale price ratio has not changed much at all. This is in itself remarkable and it may reflect the true desirability of South Pasadena homes. My most recent listing (www.320pasadena.com) sold in a week with 4 offers and sold at 106% of its list price, so if that’s any indication, backed by the overall community sales of 62 out of 83 selling at or over list, it might just indicate little slowing for the upcoming holiday period. This would be great for sellers, but remain frustrating for buyers to get in, however, if the holiday period slows in its typical trend, buyers should jump in during that time before things potentially heat up again post-holiday.
And that’s the market for South Pasadena Homes for Sale for the week ending 9/21/14
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