Hereâ€™sÂ the market update for South Pasadena Real Estate for the week ending 5/22/11:
It's a Sellerâ€™s Market,Â Here's why:
# Condos Available: 25 (5 new this month)
# Single Family Homes Available: 41 â€“ 19 new over the last 3 weeks!
The 6 month numbers are as follows:
Average Sale Price: $755,216
Median Sale Price: $676,500
Average Days on Market: 68
Average Sale Price to List Price Ratio: 98.62
Of Special Note this week: Wow, I go away for about 2 weeks and the volume takes off!Â However, the sales took off too! Thus, we have a continued stable market in relation to number of months of inventory available relative to sales. Ignore the paperâ€™s folks, this is South Pasadena in the Springâ€¦.and look at that sale price to list price ratio at almost 100%.Â Almost Â½ of all sales over the last 6 months have been at or over list price!Â There are also some fixers that have been selling like hotcakes, like the Oak St teardown that sold for 118% of the list price. South Pasadena continues to defy the national trendâ€¦.who wants in on the action?!
And thatâ€™sÂ the market for South Pasadena Real Estate for the week ending 5/22/11