Altadena ended the year with a BANG. We saw a significant gain in home prices.
There were total of 32 closings in December. 15 properties sold were priced under $500,000. 4 homes sold above $500,000 were priced in the $1,000,000 range.
The lowest priced property sold: $208,400/ 2674 Glenrose Avenue/ 2 Bedrooms 1 Bathroom/ 5480 Lot Size/ 900 SF/ MLS#C12017748
The highest priced property sold: $1,599,900/ 1981 New York Drive/ 5 Bedrooms 5 Bathrooms/ 19,114 Lot Size/ 4237 SF/ MLS#22168951
Lets check some statistics and see how Altadena scored last year.
*Statistics from Trends Visions/ I-Tech
In January, the average price per square feet was $283.00 and increased to $336.00 in December, a percentage change of 18.9%.
The average sale price changed from $557,000 to $685,000 in December. This is a gain of 23%.
The average sold price increased from $423,000 to $615,000 in December. This is an amazing percentage change of 45.4%.
Homes have sold near asking price. In June, the percentage was 101% sold to list price.
There were 92 listings for sale in January. In December, listings for sale were down to 41 properties. As the year went by, Altadena saw a decline in inventory similar to other areas such as Pasadena, La Canada, Glendale, San Marino, South Pasadena and San Gabriel.
Lack of inventory is definitely going to change the real estate climate. If you are a homeowner who have been waiting to sell, or previously listed and did not sell, it’s time to list/re-list your home. With the right pricing strategy and marketing, you could get top dollars for your home. For home buyers, the market has turned around. Buyers must be prepared to compete with multiple offers, have the financing (loan pre-approval) completed, and be ready to move quickly when new listings hit the market.
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Search for homes listed in the multiple listing service.
