12.03.08
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$605,500 is the median price of a single family home in Pasadena

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Doug Willis

Pasadena Home Sales up2date Review

I have prepared my elevator speech for the Pasadena housing market….”consistent”. There you have it, nothing fancy, and nothing dramatic, just a quick conveyance of an idea that succinctly sums up Pasadena home sales for the month of September. Consistent was derived by looking at the median price decline for the month, which just happens to be the same decline as we had in August.

Again, rather than insert a matrix of numbers and try to explain each segment of our real estate market you will recognize the graphic at the end of the paragraphs. All of the market data is now put into a PowerPoint presentation and delivered via a slideshow. To me, the synopsis is much easier to read and therefore easier to understand.

Allow me to elaborate on a couple of the highlights in September. Inventory (meaning homes and condos available for sale) is beginning to decline. The main emphasis for this has to do with seasonal occurrences rather than increasing home sales. We are not however seeing the monthly volume swings that we used to experience when the market was much more active. In last month’s report I had suggested that we would see a big increase in the number of homes (units) that were sold. We did, by almost a 3:2 ratio. That could easily continue for the next several months. The reason is that in the 4th quarter of 2007, home sales fell off the radar screen, so today’s increase is against last years poor performance. Units will increase, however the same will not be applicable to prices. October and November’s median price last year was $655,000 and $654,000 respectively. That elevator has a way’s to go before we see those kinds of prices again.

However the long journey begins with a short step!

Hit the “full screen” icon in the the above frame for easier viewing

Pasadena Homes - Sales Report by Month

Pasadena CA Real Estate August Sales Report

Pasadena Real Estate July Sales Report

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4 Responses to “Pasadena Home Sales up2date Review”

  1. Fingers Crossed As Real Estate Markets Report In — Real Estate Market Reports Says:

    […] Willis presents Pasadena Home Sales up2date Review posted at […]

  2. Fix Real Estate, the Economy will Follow » Pasadena California Real Estate Blog Says:

    […] | Feature Homes | Home Sales | Market Reports | Search Foreclosures | Useful Links « Pasadena Home Sales up2date Review Fix Real Estate, the Economy will Follow Wednesday, October 15, 2008 | Doug Willis | Permalink […]

  3. South Pasadena Real Estate - 3rd Quarter up2date Report » Pasadena California Real Estate Blog Says:

    […] But what is uncommon in South Pasadena is the consistency of the median price and how there seems to be very little deviation. South Pasadena is the antithesis of the current real state market. If only we could apply that to the latest market report for Pasadena homes. […]

  4. Pasadena & South Pasadena Real Estate, A Tale of Two Cities » Pasadena California Real Estate Blog Says:

    […] recent September market reports analyzing the sales of Pasadena homes along with the sales of homes in the South Pasadena real estate market described two very different […]

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