The following is the month end data for real estate activity in Pasadena for May 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||$649,000|
|Average List Price of all Current Listings||$1,016,137|
|May Median Sales Price||$549,500||$565,000|
|May Average Sales Price||$744,592||$793,183|
|Total Properties Currently for Sale (Inventory)||272|
|May Number of Properties Sold||96||339|
|May Average Days on Market (Solds)||82||81|
|Asking Price per Square Foot (based on New Listings)||$384||$399|
|May Sold Price per Square Foot||$387||$386|
|May Month’s Supply of Inventory||2.8||4.9|
|May Sale Price vs List Price Ratio||98.3%||97.7%|
|* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date|
May Property sales were 96, up 24.7% from 77 in May of 2011 and 17.1% higher than the 82 sales last month. May 2012 sales were at their highest level compared to May of 2011 and 2010. May YTD sales of 339 are running -4.8% behind last year’s year-to-date sales of 356.
The Median Sales Price in May was $549,500, down -9.2% from $605,000 in May of 2011 and down -16.5% from $657,825 last month. The Average Sales Price in May was $744,592, down -8.3% from $812,215 in May of 2011 and down -21.6% from $949,381 last month. May 2012 ASP was at a mid range compared to May of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of May was 272, down -4.6% from 285 last month and down -35.8% from 424 in May of last year. May 2012 Inventory was at the lowest level compared to May of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The May 2012 MSI of 2.8 months was at its lowest level compared with May of 2011 and 2010.
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 May was 82, up 2.5% from 80 days last month and down -9.9% from 91 days in May of last year. The May 2012 DOM was at a mid range compared with May of 2011 and 2010.
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 May 2012 Selling Price per Square Foot of $387 was down -0.5% from $389 last month and down -1.8% from $394 in May of last year.
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 May 2012 Selling Price vs Original List Price of 98.3% was up from 97.8% last month and up from 97.1% in May of last year.
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 May 2012 was 109, up 13.5% from 96 last month and down -24.3% from 144 in May of last year.