So much discussion about whether the real estate market is rebounding, so I thought it would be of interest to compare June 2012 vs. June 2011 Pasadena home sales.
Number of Pasadena homes sold:Â June 2012, 107 June 2011, 87
Average price per ft: June 2012, $382 and June 2011, was $383
Average days on market (DOM): June 2012, 80, June 2011, 85
Average selling price: June 2012, $820,686, June 2011, $872,412
Average selling price to list: June 2012, 98.63%, June 2011, 96%
Percentage of Pasadena short sales and foreclosures: June 2012, 15%, June 2011, 18%
Absorption rate:Â Â June 2012, 1.71% - , June 2011 3.71
The absorption rate indicates an extremely strong sellerâ€™s market, the number of Pasadena home sales has increased, price, average price per ft has remained the same, and average selling price has decreased.
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