Comments on: A New Record for the Pasadena Housing Market, a Record Low http://up2daterealestate.com/2007/11/06/a-new-record-for-the-pasadena-housing-market-a-record-low/ Your Home Is Our Business Fri, 03 Feb 2012 10:35:45 +0000 hourly 1 By: doug http://up2daterealestate.com/2007/11/06/a-new-record-for-the-pasadena-housing-market-a-record-low/comment-page-1/#comment-124 doug Fri, 09 Nov 2007 17:10:46 +0000 http://www.up2daterealestate.com/2007/11/06/a-new-record-for-the-pasadena-housing-market-a-record-low/#comment-124 I would disagree that the numbers do not mean anything unless they are broken down into price tiers. A 55% decrease in unit volume is significant. I did analyze price tiers a couple of weeks ago when I recapped the third quarter sales results. A link is included below. I also went back and looked at the results for the last three months. Homes that sold from $400 - $799.9 sold at 95.5% of thier original listing price. Then I looked at homes priced from $800 +. Again the same results, selling at 95.5% of thier original asking price. The weakness in the market is in home sales priced under $800.0. Several months ago we saw prices under $650 as being weak, now it appears that the slow down is beginning to move up the price chain, at least in Pasadena. http://up2daterealestate.com/2007/10/15/pasadena-real-estate-3rd-quarter-sales-report/ I would disagree that the numbers do not mean anything unless they are broken down into price tiers. A 55% decrease in unit volume is significant. I did analyze price tiers a couple of weeks ago when I recapped the third quarter sales results. A link is included below. I also went back and looked at the results for the last three months. Homes that sold from $400 – $799.9 sold at 95.5% of thier original listing price. Then I looked at homes priced from $800 +. Again the same results, selling at 95.5% of thier original asking price. The weakness in the market is in home sales priced under $800.0. Several months ago we saw prices under $650 as being weak, now it appears that the slow down is beginning to move up the price chain, at least in Pasadena.

http://up2daterealestate.com/2007/10/15/pasadena-real-estate-3rd-quarter-sales-report/

]]> By: Altrenter http://up2daterealestate.com/2007/11/06/a-new-record-for-the-pasadena-housing-market-a-record-low/comment-page-1/#comment-123 Altrenter Fri, 09 Nov 2007 03:53:07 +0000 http://www.up2daterealestate.com/2007/11/06/a-new-record-for-the-pasadena-housing-market-a-record-low/#comment-123 The question, for most of us buyers on the sidelines at the moment, is which segments of the market are showing an increase in prices? It looks from the numbers as if some very highly priced property's have sold recently. Are the middle range and low-end homes decreasing yet? The numbers mean nothing unless they are broken down into price-range tiers. I think we all know that when the mid-level and low-end priced homes start to look reasonable, sales volume will increase remarkably. You only have to read the LALand blog to realize how many of us are lying in wait! The question, for most of us buyers on the sidelines at the moment, is which segments of the market are showing an increase in prices? It looks from the numbers as if some very highly priced property’s have sold recently. Are the middle range and low-end homes decreasing yet? The numbers mean nothing unless they are broken down into price-range tiers.
I think we all know that when the mid-level and low-end priced homes start to look reasonable, sales volume will increase remarkably. You only have to read the LALand blog to realize how many of us are lying in wait!

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