subject: Pasadena Real Estate Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Pasadena Real Estate Market comparing February 2009 to February 2010.
Summary of Key Points
Pasadena Real Estate did not show signs of improvement with median sales price dropping and sellers receiving 98 % of asking price. The units sold number may not be a definitive indicator due to the low volume of units involved.
Key Statistics, Pasadena, CA: Median Sales Price (16.13%), Median Days on Market (205.08%), and Number of Units Sold (17.50%), Sales Price to List Price Ratio (Feb 09 97% - Feb 10 98%)
Pasadena Real Estate
The city of Pasadena experienced a 16.13% increase in median sales price from last year going down from $559,960 (Feb. 09) to $650,8288 (Feb. 2010). Median days on market data for Pasadena show that houses are selling slower than Feb 09. It took 34 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 102 days (a205.08% deterioration). Another important factor to consider is total number of units sold. In the month of Feb 09, 40 units were sold compared to 47 for Feb 10 (17.50% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Pasadena. SP/LP ratio for Feb 09 was 97% compared to 98% for Feb 10.
Lets take a brief look at neighbors South Pasadena and Whittier. South Pasadena Real Estate featured a 29.45% decrease in median sales price ($975,000 Feb 09 - $687,833 Feb 10) and Whittier Real Estate saw a 1.82% decrease ($346,082 Feb 09 - $339,787 Feb 10). Are houses in Pasadena and Whittier selling faster or slower this year? Well, South Pasadena experienced a 7.96% increase (67 to 72 days) in median days on market and Whittier saw a 12.36% increase (48 to 54 days). In the units sold category, Pasadena sold 4 units more (200%) in Feb 2010 than 09 and Whittier sold 2 units more (2.38%) in Feb 2010 than Feb 09.
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