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Duarte California Real Estate: Five Years in Review

Duarte California Real Estate: Five Years in Review

I am meeting with a Duarte home seller this morning.  In preparation for the meeting or as we in real estate call a listing presentation, I looked at statistical data for real estate market performance in Duarte from 2003 and 2005.

Honestly, there were no major surprises.  When comparing Duarte’s real estate performance to Pasadena, San Marino and South Pasadena, the trends are very similar:

The home sale volume dropped significantly over the last couple of years:

An almost 50% decline in the volume of Duarte home sales from 2006 to 2008.

The most significant Duarte home price increases took place between 2003 and 2005.

The MAJOR difference between Duarte and its neighboring cities to the West is that the down-trending in home sales prices is more significant and home prices are still on the decline.

Duarte home prices moved down 16% in 2008 from 2007 and almost 20% over the last two years.

READ MORE: Pasadena Real Estate Market Review 2003-2008
South Pasadena Real Estate Market Review 2003-2008
San Marino Real Estate Market Review 2003-2008

Here’s Duarte California real estate data of sold homes for 2003 to 2008 for your review:

DUARTE 2003 2004 2005 2006 2007 2008
# of Units Sold 205 247 217 204 136 104
Ave List Price/Sq.Ft. $239 $314 $374 $402 $412 $312
Ave Sold Price/Sq.Ft. $239 $314 $376 $399 $401 $305
Ave List Price $320,765 $409,257 $492,193 $525,804 $507,589 $427,150
Ave Sales Price $320,296 $409,291 $494,184 $520,358 $495,663 $416,326
% of Sold to List 99.9% 100.0% 100.4% 99.0% 97.7% 97.5%

Notice that the year ended with home sales closing at $305 per square foot.  The last month of December 2008 ended at $283 per square foot – 8% lower than the average home price sold of last year.  Not a good trend for Duarte home sellers, but a great opportunity for Duarte home buyers.

Duarte Real Estate Market statistics for December 2008:

Duarte, California Dec-08
New Listings 9
Total Listings 61
Sales Pending 9
Homes Sold  9
Listings Expired 11
Average Days on the Market  120
Average Price Per Sq. Ft. $283
Median Selling Price $339,000
Average Selling Price $351,989
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 29.4

Currently, there are 61 houses available for purchase in Duarte California.

SPosted by Irina Netchaev, Real Estate Agent.

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Posted on January 15th, 2009
Posted in Duarte
Posted by: Irina Netchaev

  1. How did Pasadena's real estate market perform from 2003 to 2008? | SearchMLSforFREE

    […] Read More: Pasadena Real Estate Outlook for 2009 South Pasadena Real Estate Review – 2003 – 2008 San Marino Real Estate Review – 2003 -2008 Duarte Real Estate Review – 2003 – 2008 […]

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