South Pasadena does not seem to be immune to the overall market conditions effecting residential real estate. Although we don’t currently see the neighborhood or zip code variances like we do in Pasadena, there is evidence that the market is exhibiting the same symptoms as its neighbor to the north.

Inventory has been steadily increasing since February and as a result, it is beginning to show on lower median prices. Residential sales have remained steady as indicated by September ‘07 sales results in which 12 units were sold, compared to 10 units for September ‘06. This included single family, condos and townhomes.

Due to the much smaller size of the South Pasadena Housing Market, we can see dramatic shits in the numbers being reported. A few reported sales on the low end or the high end can sku the numbers in that direction.

The graphs indicate an analysis performed only on single family homes and do not include condos or townhomes.