Current Stats for Pasadena, CA (SFR)

Great news for Pasadena!  The median price of $676,000 for April 2012 is at the highest it has been since February of 2008.  Perhaps this is the direct result of the limited inventory which is down about 40%.  Additionally for April 2012, we have seen April sales (year over year), increase about 38% and the number of pending sales increase about 23%.  Also interesting is the fact that the average price per square foot (what everyone seems to use as a gauge these days) is up 26% (April 2012 compared to April 2011).  We also only have about 2.5 months of inventory right now, which is a decrease of about 57% from last year same time.

Over a five year period, comparing April 2012 sales to April 2007 sales, the number of homes for sale is down 53%.  The number of homes sold has remained flat and we actually have seen 10% more homes pending this April than April 2007.

So what do these facts coupled with the low interest rates mean to you?  If you have any equity in your home, and have been wanting to scale down, up, or over, the window of opportunity is now!  You will sell your home faster, have a larger pool of qualified buyers than another other time, and will get a fair and excellent price for your home.

Drop us a line if you would like us to complete a market analysis on your home.  You might be quite surprised on the current value of your home.