Here’s the market update for South Pasadena Homes for Sale for the week ending 5/24/15:
It's a Seller’s Market, Here's why:
- 1.5 months supply of homes trending (6 months is a balanced market)
- 21 Homes available total
# Condos Available: 6 (0 new this week)
# Single Family Homes Available: 15 (3 new this week)
The 6 month numbers are as follows:
Average Sale Price: $1,003,244
Median Sale Price: $880,000
Average Days on Market: 47
Average Sale Price to List Price Ratio: 101.50
Of Special Note this week: Discussion 2 months ago (http://actvra.in/4Br4) about a slowing market have not panned out, but it has not accelerated either: the South Pasadena Homes for Sale market has remained stable right where it was then, through April and now almost June! This is atypical. Today inventory is just slightly down but prices are sitting right where they were but for a few specific outlier properties. It’s a good place to be stuck because buyers still outweigh sellers and multiple offers are still de rigueur if the list price is appropriate. The typical trend going forward at this time of year is an increase in inventory and buyers, which creates a busy market, so we’ll just have to watch to see if this unchanging market continues, which would break that trend.
And that’s the market for South Pasadena Homes for Sale for the week ending 5/24/15
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