Pasadena CA Real Estate Market Trends for March 2012

The following is the month end data for real estate activity in Pasadena for March 2012.  For any questions, please feel free to contact me through my main website, or click here to browse Pasadena homes for sale.

Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear
Median List Price of all Current Listings $659,000
Average List Price of all Current Listings $1,017,450
March Median Sales Price $543,750 $525,000
March Average Sales Price $795,784 $733,160
Total Properties Currently for Sale (Inventory) 294
March Number of Properties Sold 60 157
March Average Days on Market (Solds) 77 80
Asking Price per Square Foot (based on New Listings) $398 $410
March Sold Price per Square Foot $366 $384
March Month’s Supply of Inventory 4.9 5.9
March Sale Price vs List Price Ratio 98.5% 97.7%
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date

Property Sales

March Property sales were 60, down -25.0% from 80 in March of 2011 and 7.1% higher than the 56 sales last month. March 2012 sales were at their lowest level compared to March of 2011 and 2010. March YTD sales of 157 are running -24.2% behind last year’s year-to-date sales of 207.

Pasadena Property Sales March 2012

Prices

The Median Sales Price in March was $543,750, down -6.7% from $582,500 in March of 2011 and up 11.1% from $489,500 last month. The Average Sales Price in March was $795,784, up 10.8% from $718,176 in March of 2011 and up 10.1% from $722,769 last month. March 2012 ASP was at highest level compared to March of 2011 and 2010.

Pasadena Prices March 2012

 

Inventory & MSI

The Total Inventory of Properties available for sale as of March was 294, down -2.6% from 302 last month and down -26.5% from 400 in March of last year. March 2012 Inventory was at the lowest level compared to March of 2011 and 2010.

A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The March 2012 MSI of 4.9 months was at its lowest level compared with March of 2011 and 2010.

Pasadena Inventory March 2012

 

Market Time

The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for March was 77, down -11.5% from 87 days last month and up 1.3% from 76 days in March of last year. The March 2012 DOM was at a mid range compared with March of 2011 and 2010.

Pasadena Market Time March 2012

Selling Price per Square Foot

The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the ‘mix’ of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The March 2012 Selling Price per Square Foot of $366 was down -8.3% from $399 last month and down -3.9% from $381 in March of last year.

Pasadena Price per sq ft

 

Selling Price vs Original Listing Price

The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. The March 2012 Selling Price vs Original List Price of 98.5% was up from 97.4% last month and up from 97.3% in March of last year.

Pasadena Selling vs Listing Price March 2012

 

Inventory / New Listings / Sales

This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in March 2012 was 104, up 5.1% from 99 last month and down -26.8% from 142 in March of last year.

Pasadena Inventory Listings Sales March 2012

 

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