Market Update for CalTech Area of Pasadena Real Estate for week ending 4/17/11

By
Real Estate Agent with Coldwell Banker Residential Brokerage

How's the market in the Pasadena CalTech Real Estate area week ending 4/17/11?

CalTech Area Real Estate is a Seller's Market. Here's why:

•     2.6 months supply of homes trending (no change from last week)

•     8 Homes available (1 new one at over $6 Million!)

The 6 month numbers are as follows:

Average Sale Price: $972,941

Median Sale Price: $975,000

Average Days on Market: 66

Average Sale Price to List Price Ratio: 95.34

Of Special Note this week: A new construction home came on the market at over $6 million, which now makes 2 homes in the area over $6 million. It is a truly special neighborhood to potentially be commanding those types of prices, however, they are not sold yet and we'll have to wait and see what the market will bear. 1 property fell out of escrow this week, and a romantic Mediterranean fixer sold within 12 days! It's a fickle market, still with much activity as I had just shy of about 100 people at my open house on Rose Villa today. Let's see how this holiday week evolves to see if the activity continues.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
California Los Angeles County Pasadena
Groups:
Addicted to Active Rain
CALIFORNIA DREAMING
Everything California
LA Connection
Local Expert
Tags:
cal tech
cal tech area
cal tech real estate
pasadena homes for sale
pasadena real estate
lee bothast

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the chair to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
322,924
Jon Quist
LONG REALTY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Yep. Those figures prove that it is indeed a seller's market in the CalTech area of Pasadena. Been that way for a very long time, yes?

Apr 18, 2011 03:14 AM #1
Rainmaker
37,916
Lee Bothast
Coldwell Banker Residential Brokerage - South Pasadena, CA
2nd Generation Area Realtor

Yes, John, the CalTech Area of Pasadena has been strong for a long time. Since I grew up just about 2 miles from the CalTech Area of Pasadena, I've seen it remain nice and strong since I was a kid. I had friends that lived in the area and know it well (I spent many days and nights there as a teen) - it was always pleasant, clean, consistent and has had a conservative upscale sensibility to it.

Apr 18, 2011 03:32 AM #2
Rainmaker
807,358
Anthony Stokes-Pereira
Better Homes and Gardens Rand Realty - Nanuet, NY
Realtor

A very detailed presentation on activity in your market area!

Apr 18, 2011 07:39 AM #3
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
37,916

Lee Bothast

2nd Generation Area Realtor
How Can I Help You?
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the pencil to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: