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|
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.
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.
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.
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.
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.
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.
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.