Monterey Hills Real Estate » Monterey Hills http://www.montereyhillscarealestate.com Search All Monterey Hills Realtors Condos and Townhomes for Sale in MLS Wed, 23 Dec 2009 23:40:39 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Real Estate Market Update – Monterey Hills, CA April 2009 http://www.montereyhillscarealestate.com/real-estate-market-update-monterey-hills-ca-april-2009/ http://www.montereyhillscarealestate.com/real-estate-market-update-monterey-hills-ca-april-2009/#comments Thu, 21 May 2009 22:21:41 +0000 irina http://www.montereyhillscarealestate.com/?p=55 We have seen the rise in Pasadena’s real estate market , Monterey Hills real estate is still depressed.  Condo listings that are there are sitting and not selling. Price per square foot for Monterey Hills Condo sales dropped to mid $200s – about a 17% drop since 2008. Inventory of condos and townhomes is still non-existent given that there are close to 4,000 housing units on the hill.

Monterey Hills real estate statistics for January through April 2009:

Condos Jan-09 Feb-09 Mar-09 Apr-09
New Listings 2 1 3 3
Total Listings 5 7 6 6
Sales Pending 1 3 3 5
Homes Sold 2 1 3 2
Listings Expired 3 0 0 2
Average Days on the Market 23 242 64 38
Average Price Per Sq. Ft. $277 $303 $265 $254
Median Selling Price $310,000 $325,725 $250,000 $269,000
Average Selling Price $310,000 $325,725 $276,300 $269,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 10.8 30.3 8.7 7
         
Townhomes Jan-09 Feb-09 Mar-09 Apr-09
New Listings 1 2 1 0
Total Listings 1 3 3 2
Sales Pending 0 1 1 0
Homes Sold 0 1 0 1
Listings Expired 0 1 0 0
Average Days on the Market n/a 89 n/a 57
Average Price Per Sq. Ft. n/a $268 n/a $270
Median Selling Price n/a $550,000 n/a $386,000
Average Selling Price n/a $550,000 n/a $386,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) n/a 13.0 n/a 9

Data above from ITEC (Pasadena Foothill Association of Realtors)

Interested in seeing available Monterey Hills condos and townhomes? Below is “real time” multiple listing service information for your perusal:

 

For detailed Monterey Hills property information, please visit Monterey Hills condos for sale.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Read More:

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Take advantage of the $8,000 tax credit

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Property Title Insurance? Learn all about it!

If you are thinking of buying a Pasadena home, Pasadena condo or townhouse, please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

MLS listing Search

 How much is my home worth
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]]> http://www.montereyhillscarealestate.com/real-estate-market-update-monterey-hills-ca-april-2009/feed/ 0 Real Estate Sales and Statistics for March 2009 -Monterey Hills, California http://www.montereyhillscarealestate.com/real-estate-sales-and-statistics-for-march-2009-monterey-hills-california/ http://www.montereyhillscarealestate.com/real-estate-sales-and-statistics-for-march-2009-monterey-hills-california/#comments Sun, 19 Apr 2009 22:29:40 +0000 irina http://www.montereyhillscarealestate.com/?p=52 Are you a home buyer looking for condos and Townhomes in Monterey Hills? Unfortunately, you’re out of luck! There is no inventory!!!

Monterey Hills condos have always been a great investment and are easy to rent due to its proximity to USC Medical Center and downtown LA. Smart home owners are holding on to their investments and waiting to sell since the property values lost about 10% in equity over the last six months. On average Monterey Hills condos were selling at about $300 per sq. ft. and have been fluctuating around $270 or so.

If you don’t have to sell, why should you when you can easily rent and wait for the real estate market to turn around! We are seeing multiple offers and lack of inventory all over Pasadena and South Pasadena and Monterey Hills is right behind these neighborhoods.

In March 2009, Monterey Hillshad only 6 condos for sale and 1 townhome. Pretty amazing considering that there are over 1780 housing units on the hill.

You can still get a 2 bedroom, 2 bath condo for only $239,000 and be next to South Pasadena and Pasadena. Just take a look at the condos in Monterey Hills under $300,000.

Curious to see last month’s Monterey Hills report?

Read More: Monterey Hills condo and townhome real estate statistics for February 2009

Here’s what the Monterey Hills Real Estate Statistics are looking like for January through March 2009:

Monterey Hills      
Condos Jan-09 Feb-09 Mar-09
New Listings 2 1 3
Total Listings 5 7 6
Sales Pending 1 3 3
Homes Sold 2 1 3
Listings Expired 3 0 0
Average Days on the Market 23 242 64
Average Price Per Sq. Ft. $277 $303 $265
Median Selling Price $310,000 $325,725 $250,000
Average Selling Price $310,000 $325,725 $276,300
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 10.8 30.3 8.7
       
Townhomes Jan-09 Feb-09 Mar-09
New Listings 1 2 1
Total Listings 1 3 3
Sales Pending 0 1 1
Homes Sold 0 1 0
Listings Expired 0 1 0
Average Days on the Market n/a 89 n/a
Average Price Per Sq. Ft. n/a $268 n/a
Median Selling Price n/a $550,000 n/a
Average Selling Price n/a $550,000 n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales) n/a 13.0 n/a

Information gathered from ITEC (Pasadena Foothill Multiple LIsting Service)

Search for available Monterey Hills condos and townhomes:

 

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

If you are thinking of buying or selling your Monterey Hills townhome or condo please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

MLS listing Search How much is my home worth
real estate market statistics contact real estate agent
]]> http://www.montereyhillscarealestate.com/real-estate-sales-and-statistics-for-march-2009-monterey-hills-california/feed/ 0 Real Estate Market Report for Monterey Hills Townhomes and Condos – February 2009 http://www.montereyhillscarealestate.com/real-estate-market-report-for-monterey-hills-townhomes-and-condos-february-2009/ http://www.montereyhillscarealestate.com/real-estate-market-report-for-monterey-hills-townhomes-and-condos-february-2009/#comments Sun, 15 Mar 2009 19:36:19 +0000 irina http://www.montereyhillscarealestate.com/?p=48 The inventory for Monterey Hills condos and townhomes is becoming non-existent. Considering that there are close to 1,800 housing units on the hill, only 7 condos and 3 townhomes were available for sale in February. 2008 saw only 36 Monterey Hills condos and townhomes sold – about 3 a month. That number was significantly lower from just 3 years ago of 99 sales in 2005.

For property owners looking to rent their units Monterey Hills has always been a great investment. The proximity to USC and downtown LA makes these condos easy to rent. This could explain the decreased number of sales as owners are taking advantage of the easy rentals and holding on to their property until the market turns around.

Here are statistics for Monterey Hills Real Estate for December 2008 through February 2009:

Condos Dec-08 Jan-09 Feb-09
New Listings 4 2 1
Total Listings 7 5 7
Sales Pending 0 1 3
Homes Sold 2 2 1
Listings Expired 1 3 0
Average Days on the Market 24 23 242
Average Price Per Sq. Ft. $346 $277 $303
Median Selling Price $279,500 $310,000 $325,725
Average Selling Price $279,500 $310,000 $325,725
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 15.2 10.8 30.3
       
Townhomes Dec-08 Jan-09 Feb-09
New Listings 1 1 2
Total Listings 1 1 3
Sales Pending 0 0 1
Homes Sold 1 0 1
Listings Expired 0 0 1
Average Days on the Market 8 n/a 89
Average Price Per Sq. Ft. $276 n/a $268
Median Selling Price $390,000 n/a $550,000
Average Selling Price $390,000 n/a $550,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 4.3 n/a 13.0

Information gathered from ITEC (Pasadena Foothill Multiple Listing Service)

Search for available Monterey Hills condos and townhomes:

 

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

If you are thinking of buying or selling your Monterey Hills Townhome or Condo please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

MLS listing Search How much is my home worth
real estate market statistics contact real estate agent
]]> http://www.montereyhillscarealestate.com/real-estate-market-report-for-monterey-hills-townhomes-and-condos-february-2009/feed/ 0 January 2009 Report for Monterey Hills Townhomes and Condos http://www.montereyhillscarealestate.com/january-2009-report-for-monterey-hills-townhomes-and-condos/ http://www.montereyhillscarealestate.com/january-2009-report-for-monterey-hills-townhomes-and-condos/#comments Mon, 16 Feb 2009 19:08:01 +0000 irina http://www.montereyhillscarealestate.com/?p=44 Two new condos came up on the market and two condos closed escrow. Only one townhome is available for sale on the hill. Monterey Hills condo and townhome inventory is almost non-existent in January.

Considering there are 21 condo complexes with close to 1,800 condo and townhome units, the supply of condos isn’t quite there. The demand is not quite there as well with price per square foot falling to $277.

It’ll be interesting to track the developments on the hill over the next few months. In the meantime, here’re Monterey Hills statistics for the last three months:

Monterey Hills      
Condos Nov-08 Dec-08 Jan-09
New Listings 0 4 2
Total Listings 8 7 5
Sales Pending 1 0 1
Homes Sold 4 2 2
Listings Expired 0 1 3
Average Days on the Market 100 24 23
Average Price Per Sq. Ft. $298 $346 $277
Median Selling Price $324,000 $279,500 $310,000
Average Selling Price $322,000 $279,500 $310,000
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 8.7 15.2 10.8
       
Townhomes Nov-08 Dec-08 Jan-09
New Listings 1 1 1
Total Listings 1 1 1
Sales Pending 0 0 0
Homes Sold 0 1 0
Listings Expired 1 0 0
Average Days on the Market n/a 8 n/a
Average Price Per Sq. Ft. n/a $276 n/a
Median Selling Price n/a $390,000 n/a
Average Selling Price n/a $390,000 n/a
Absorption Rate (# of weeks to sell current inventory at present rate of sales) n/a 4.3 n/a

Search for available Monterey Hills condos and townhomes:

 

Data taken from ITEC (Pasadena Foothills Association MLS service)

If you are interested in beginning your search for a Monterey Hills condominium or townhouse, please click on the search home link.

For weekly updates on Monterey Hills real estate market activity, please feel free to request market analysis reports with detailed information by clicking here. These reports are gathered and updated by Altos Research and will be emailed to you with my compliments.

Posted by Irina Netchaev, Monterey Hills Real Estate Agent 626-627-7107

If you are thinking of buying or selling your Monterey Hills home please give us a call for a comprehensive and free consultation. We can be reached at 626-204-3340.

IRINA NETCHAEV & ASSOCIATES

Pasadena Real Estate Agents

445 South Fair Oaks Avenue

Pasadena, CA 91105

(626)204-3340

 

MLS listing Search How much is my home worth
real estate market statistics contact real estate agent
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