South Pasadena Home Sales
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Doug Willis, Broker RE/MAX Property ConciergeSouth Pasadena, CAPhone 626-432-4615
South Pasadena Home Sales
Market Report – Residential Single Family …
June 2013
How Many Homes Sold ?
Prices - Up or Down?
What about Price per Square Foot?
Jan-June 2012 vs Jan-June 2013
+Number of Homes Sold – 6 mos
January – June 2012 53 units
January – June 2013 62 units
% Increase 17%
South Pasadena is a small market with only 120 Single Family Home sales recorded last year.
+Median price
2012 $ 870,000
2013 $ 932,500
% Increase 7%
Median prices provide a much more accurate indicator of value than average prices. The median price in 2012 for South Pas was $870,000. Home prices had peaked by June 2012.
+Average price
2012 $1,019,007
2013 $1,069,353
Increase 5%
Why Median vs Average? – if one home sold at a price of $7 million, it can have a dramatic affect when computing average. Since Median looks at the middle of the price range, that same property sale would have little or no impact.
+Average price per square foot
2012 $ 477.42
2013 $ 509.45
% Increase 6.7%
+Sale price vs asking price
2012 97.9%
2013 102.3%
In 2012, if you listed your home for $100,000, it would have sold for $97,900, in 2013 it would sell for $102,300, the result of higher demand.
+Average square feet
2012 2104
2013 2146
Average square feet provides a cross check against increasing prices. When prices are on the rise, it provides another measurement to confirm a dollar increase against an increase due to a larger home.
+$600,000 & below
2012 13 sold units
2013 7 sold units
Entry level homes are becoming a thing of the past as it becomes almost impossible to buy a home for less than $600,000. This year, only 7 homes have been available or have sold for less than $600,000.
+$1,000,000 & above
2012 12 homes
2013 28 homes
Increase 133%
Homes sold above $1,000,000 are commanding a bigger share of the market as prices increase.
+Need more info on South Pas? Call today!
Deena & Doug WillisBroker OwnersRE/MAX Property Concierge266 Monterey Rd., Ste BSouth Pasadena, CA 91030Ph 626-432-4615
BRE #’s 01334541 & 01354143
Check out 10 Keys for a Successful Home Sale
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