We are continuing to be challenged by low inventory in the Pasadena and Altadena real estate market.  As of 1/28/2013, in Altadena, there are total of 29 active listings reported on or after January 1, 2013.  There are total of 50 active listings today (1/28/13) in Altadena.  According to TrendVision, there were 92 homes for sale in January 2012.  By the end of the year, 41 homes were available for sale.

Previously listed homes (expired) are returning as active listings.  Why do properties expire?  The top 2 reasons are pricing and lack of exposure.  Below are expired/cancelled listings returning for a come back.

2581 El Sol Avenue ~ $380,000 (Listed on May 9, 2012 and cancelled on January 21, 2013.  Past list price $380,000.)

3551 Giddings Ranch ~ $869,000 (Listed on June 25, 2012 and expired on December 31, 2012.  Past list price $885,000.)

2885 Windfall ~ $555,000 (Listed on August 24, 2012 and expired on 12/17/2012.  Past list price $585,000.)

According to the CMA Report (above showing 29 active listings), the average square feet is 1,639, the average price per square feet is $349.44, and average list price is $564,000.  The average price per square feet in January 2012 was $283.00.  The average price for sale was $557,000.

Highest priced home is 2238 Midwick Drive listed at $995,000.  The lowest price home is 2270 Glenrose Avenue listed at $299,000.  15 of the homes listed are over $500,000.

City of Pasadena, Altadena’s neighbor is doing well too.  The average price for sale in January 2012 was $779,000.  By December 2012, the average price for sale was $904,000.

CoreLogic reported that California saw an increase of 9% in home price last  year.  Excluding foreclosures and distressed homes, home price increased 5.8% in October compared to a year earlier (national data/ LA Times Dec. 2012).

If you are a buyer, watch for new listings entering the market and go, go, go.  For sellers, the market is preparing for another big show time.  Feel the MOVE?

*CMA report from I-Tech MLS.

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 Are you thinking of buying or selling a home in Pasadena and Altadena area?  Call Ellie Viray at 626-524-4136 for a market evaluation/consultation.  Ellie Viray is a full time Realtor, bilingual in Japanese and lives in Altadena, California helping people MOVE forward to reach their real estate goals.   Search for all Pasadena and Altadena active listings here!