pasadena homes march up2date sales report

up2daterealestate.com

up2date Real Estate Market Report for Pasadena

- March 2009 Home Sales

- Single Family

- Townhomes & Condominiums

- Housing Charts and Graphs

- Analysis and Commentary


Pasadena – All Residential Units

Median Price

2009 $475,000

2008 $588,750

% Change (19%) This months number was a big increase over last months median price of

$435,000


Number of Homes Sold- All Residential

2009 98 units

2008 76 units

% Change 28%

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

2009 75 / 118

2008 57 / 110

% Change 31%

Good sign for March

Selling times are beginning to come

down


Pasadena – Single Family Units

Median Price

2009 $567,500

2008 $660,000

% Change (14%)Huge rebound from last month’s number

of $470,000


Number of Single Family Homes Sold

2009 58 units

2008 43 units

% Change 35 %

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

2009 51 / 93

2008 62 / 146

% Change (17%)

Increased unit activity …..

Means fewer days on market


Current Inventory of Single Family Homes

Number Median Price Days/Mkt

Active 346 $667,000 95

Contingent 104 $498,500 68 / 87

Pending 58 $577,800 76 / 100

up2dateTownhomes & Condominiums

Median Price

2009 $362,900

2008 $470,000

% Change (23%)

realestate.com

Condo/Townhome prices finally held steady month to

month

up2date

Townhomes & Condominiums

realestate.com

Number of Units Sold

2009 41 units

2008 31 units

% Change 32%

Average Days on Market

current days on market / cumulative days on market

2009 112 /154

2008 56 / 71

% Change 100%

Almost 2.5 times the February volume


Current Inventory of Townhomes & Condominiums

Number Median Price Days/Mkt

Active 266 $499,975 107

Contingent 40 $359,500 84 / 139

Pending 28 $423,000 97 / 107

Prices appear to be rising


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

Big February –March increase


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Jan

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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 Ju

n Jul

Aug Sep Oct

Nov Dec0

50

100

150

200

250

Pasadena Monthly Unit Home Sales

2004 2005 2006 2007 2008 2009

up2date

Analysis and Forecast• March was one of the most positive months we have seen in the last 1.5

years• Unit sales and median prices staged a big rally compared to February ’09• Condo/Townhome units which have lagged behind Single Family showed

big gains• Homes in escrow confirm that prices are on the rise• Selling times for all properties are decreasing

Outlook

- Sales numbers for April indicate early market increases

- News reports out this week say Banks will begin the foreclosure process as grace periods and Govt programs have been announced

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