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Altadena Real Estate Market Report and Housing Update – October 2008

Altadena Real Estate Market Report and Housing Update – October 2008

Altadena real estate is still seeing an increase in home listings.  Inventory is increasing, prices are going down and sales will be decreasing in the next couple of months.  Take a look at the number of Altadena homes with accepted offers (sales pending) and you will see a significant decrease from 37 in June to 22 in October. 

Starting with October 2008, I will be able to include the Median Sales Price which will help us in tracking the real estate market a bit more effectively.

In the meantime, Altadena is still in a very strong buyer’s market.

Condos and townhomes in Altadena are still almost nowhere to be found, but for the persistent few who want to buy an Altadena condo there are a couple available for sale.

If you are looking for Altadena foreclosures, here’s a list of all Altadena homes that are bank owned and foreclosed.

Altadena Real Estate Market Statistics for October 2008 with comparison to June and September:

Single Family Residence Jun-08 Sep-08 Oct-08
New Listings 36 30 37
Total Listings 137 108 121
Sales Pending 37 33 22
Homes Sold  31 30 30
Listings Expired 13 21 11
Average Days on the Market  116 139 129
Average Price Per Sq. Ft. $378 $360 $321
Average Median Price     $460,000
Average Selling Price $745,097 $553,587 $528,987
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 19.2 15.6 17.5
Condos and Townhomes Jun-08 Sep-08 Oct-08
New Listings 1 0 2
Total Listings 4 0 2
Sales Pending 0 0 1
Homes Sold  1 0 0
Listings Expired 1 1 1
Average Days on the Market  12 n/a n/a
Average Price Per Sq. Ft. $431 n/a n/a
Average Median Price   n/a n/a
Average Selling Price $535,000 n/a n/a

 Real estate data based on information from ITEC (Pasadena Foothills Association MLS service)



Real estate market activity with real time updated data can be found on Pasadena California Real Estate Blog’s How is the Real estate Market tab.  These real estate housing reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Real Estate Agent.

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Posted on November 17th, 2008
Posted by: Irina Netchaev

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