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

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE#01512696

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.

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California Los Angeles County Pasadena
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Tags:
cal tech
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lee bothast

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Rainmaker
334,278
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
41,045
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
807,360
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
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Rainmaker
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Lee Bothast

2nd Generation Area Realtor
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