Low inventory and a lack of available homes for sale continued to dominate the South Pasadena housing market in September of 2017. Homes simply aren’t available – and if they are – they are moving at a fast clip. Three homes sold within just 13 days on the market – pushing the average days on the market to an extremely low level. That means sellers are firmly in control and buyers are scrambling to find a home – any home – to buy in this ultra-competitive marketplace.
If you are selling a home this is an opportune time to do so. If you are buying a home you will need every advantage you can get – check out our South Pasadena Homes tips for How to Buy a Home in South Pasadena.
Here are the major statistics from September 2017 for single family residential properties in South Pasadena (condominiums are not included in these numbers):
Total number of homes sold in South Pasadena in September 2017: 7.
Average sales price of those 7 homes: $1,459,449.
Lowest priced single family home in South Pasadena in September 2017: $1,050,000.
Highest priced single family home in South Pasadena in September 2017: $2,135,000.
Average days on the market while trying to sell: 18.
Average lot size of those 15 homes: 9,986 square feet.
Average square footage of those 15 sold homes: 2,143.
Average price per square foot: $712.
Average year built for homes sold in July 2017: 1935.
There are currently just 18 single family properties (excluding condominiums) for sale as of October 1, 2017. That means there is less than 3 month’s inventory available for sale.
This is an outstanding time to be selling a home as the inventory is so low and demand continues to increase. If you are thinking of selling your South Pasadena home – feel free to get in touch with me to discuss your home’s current value and how to best present it to the market. I can help if you are looking to buy and give you the edge to come out on top. Give me a call anytime at: (626) 437-6800 or email: Derek@SouthPasadenaHomes.com.
Derek
