pasadena homes july '09 analysis

- Pasadena July 2009 Home Sales

- Single Family

- Townhomes & Condominiums

- Housing Charts and Graphs

- Analysis Commentary

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Pasadena – All Residential Units

Median Price

2009 $516,800

2008 $557,000

% Change (7.2%)

The continuing decline in Pasadena real estate

prices will end in August


Number of Homes Sold- All Residential

2009 148 units

2008 117 units

% Change 26%

Average Days on Marketcurrent days on market / cumulative days on market

2009 79/ 68

2008 54/ 75

% Change 46%

July unit sales exceed previous

July levels in ‘06, ‘07 & ‘08


Pasadena – Single Family Homes

Median Price

2009 $599,000

2008 $633,670

% Change (5.5%)Prices are showing stability as the June

price was $604.0


Number of Single Family Homes Sold

2009 104 units

2008 79 units

% Change 32 %

Average Days on Marketcurrent days on market / cumulative days on market

2009 74 / 64

2008 46 / 74

% Change 60 %

Sales of Single Family homes

continue to show strong gains over

last year


Current Inventory of Single Family Homes

Number Median Price Days/Mkt

Active 294 $749,000 115 / 99

Contingent 71 $649,900 90 / 84

Pending 96 $470,000 76 / 56

up2dateTownhomes & Condominiums

Median Price

2009 $430,000

2008 $470,500

% Change (9%)

realestate.com

Condominium market is still

trending toward lower priced units

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Townhomes & Condominiums

realestate.com

Number of Units Sold

2009 49 units

2008 40 units

% Change 23%

Average Days on Market

current days on market / cumulative days on market

2009 88 / 76

2008 72 / 78

% Change 22%

Another strong month in terms of

unit sales


Current Inventory of Townhomes & Condominiums

Number Median Price Days/Mkt

Active 226 $517,000 99 / 84

Contingent 34 $426,500 113 / 137

Pending 49 $428,000 78 / 40

Expected price levels for August look to continue price trend


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2004 2005 2006 2007 2008

$425,000

$475,000

$525,000

$575,000

$625,000

$675,000

$725,000

$775,000

Pasadena Median Home Prices


Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $400,000

$425,000

$450,000

$475,000

$500,000

$525,000

$550,000

$575,000

$600,000

$625,000

$650,000

$675,000

$700,000

$725,000 Pasadena Annual Median Home Prices

2004

2005

2006

2007

2008

2009


Jan

Feb Mar Apr

May Ju

n Jul

Aug Sep Oct

Nov Dec0

50

100

150

200

250Pasadena Monthly Unit Home Sales

2004 2005 2006 2007 2008 2009

up2date• Analysis and Forecast

• Homes sales in July were at the strongest levels we have seen in three years

• Look for the momentum to maintain this pace as the number of homes in escrow appear to duplicate the July sales numbers

• Pricing of Townhomes and Condominiums still appears to be soft due to a inventory supply of 6.3 months compared to a single family inventory of 4.4 months

• Single family homes are selling at an average of 91% of their original listing price, while condominiums and townhomes are achieving 92%

• Averaging selling times (days on market) are declining. About 33% of the homes sold in July were sold in less than 35 days, indicating strong buyer activity

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pasadena homes july '09 analysis

Real Estate