Just so you know, or in case you were wondering just where the housing market is right now, let us bring you up to speed. The February sales for single family homes in Pasadena for the month of February 2012 is up 47% over 2011. 53 homes sold in 2012 compared to 36 in 2011. That is good news and surely driven by the historically low interest rates providing opportunities for first-time AND move-up buyers. Additionally, the average price per square foot for 2012 AND 2011 is $394.00. If you are thinking about selling your home, the average time on the market is approximately 88 days, up from 77 in 2011. Sales are up over last year, however, the median price has decreased from $602,500 in 2011 to $554,500 in 2012. Are prices going down, you ask? We think they are stable, since the sales of 3 bedroom homes nearly doubled this year. These homes sold at an average of $675,000, bringing the median down. We'll be keeping a very close watch on this in the months to come.
Is it a good time to sell or buy? Yes! There is a sale going on, so now is the time to take advantage of the lower prices and fabulous interest rates. Inventory is low, and so buyers are just waiting for the right house to come on the market. To prove my point - a recent NE Pasadena listing on Paloma Street priced at 899K generated 24 offers! Prices are stable and there are tons of deals to be had as long as you are financially qualified and prepared.
Drop us a line if you would like us to provide you an evaluation of the current value of your home (not what an appraiser has told you) so that you too, can come up with a realistic plan. This is the time to find your dream home - a once in a lifetime opportunity. We sold and bought this year and would love to share our story with you. We landed back in our favorite NE Pasadena neighborhood, just 2 blocks from our old house and are grateful that our journey led us back to one of Pasadena's best kept secrets.
Data Courtesy of TrendVision
No comments:
Post a Comment