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
 |
 |
 |
 |
it is convenient to live in a Condominium if you are in a big city but i like big lawns and backyard gardens.`*`
Comment by Scarlett Morgan — May 24, 2010 @ 1:41 am