How is the real estate market performing the first half of the year? With inventory shortages being reported in many markets, is South Pasadena selling more or less homes than last year? Are prices up or down?

1. +
Doug Willis, Broker
RE/MAX Property Concierge
South Pasadena, CA
Phone 626-432-4615
How Many
Homes Sold ?
Prices - Up or
Down?
What about
Price per
Square Foot?
Jan-June 2012
vs
Jan-June 2013

2. +
Number of Homes Sold – 6 mos
 January – June 2012 53 units
 January – June 2013 62 units
 % Increase 17%
South Pasadena is a small market with
only 120 Single Family Home sales
recorded last year.

3. +
Median price
 2012 $ 870,000
 2013 $ 932,500
 % Increase 7%
Median prices provide a much more accurate
indicator of value than average prices. The
median price in 2012 for South Pas was
$870,000. Home prices had peaked by June
2012.

4. +
Average price
 2012 $1,019,007
 2013 $1,069,353
 Increase 5%
 Why Median vs Average? – if one home sold at
a price of $7 million, it can have a dramatic
affect when computing average. Since Median
looks at the middle of the price range, that
same property sale would have little or no
impact.

5. +
Average price per square foot
 2012 $ 477.42
 2013 $ 509.45
 % Increase 6.7%

6. +
Sale price vs asking price
 2012 97.9%
 2013 102.3%
In 2012, if you listed your home for $100,000, it
would have sold for $97,900, in 2013 it would
sell for $102,300, the result of higher demand.

7. +
Average square feet
 2012 2104
 2013 2146
Average square feet provides a cross check
against increasing prices. When prices are
on the rise, it provides another
measurement to confirm a dollar increase
against an increase due to a larger home.

8. +
$600,000 & below
 2012 13 sold units
 2013 7 sold units
Entry level homes are becoming a thing of the
past as it becomes almost impossible to buy a
home for less than $600,000. This year, only 7
homes have been available or have sold for
less than $600,000.

9. +
$1,000,000 & above
 2012 12 homes
 2013 28 homes
 Increase 133%
Homes sold above $1,000,000 are
commanding a bigger share of the market
as prices increase.

10. +
Need more info on South Pas?
Call today!
Deena & Doug Willis
Broker Owners
RE/MAX Property Concierge
266 Monterey Rd., Ste B
South Pasadena, CA 91030
Ph 626-432-4615
BRE #’s 01334541 & 01354143
Check out 10 Keys for a
Successful Home Sale
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