The median sales price for a home in South Pasadena increased by some 52 percent this June compared to the same month a year ago, real-estate statistics show.
According to the Pasadena-Foothills Association of Realtors (PFAR), the median sales price in So Pas this June was $1,607,565 — a big uptick from the $1,057,500 price of a year ago.
Median sales price is defined as the midpoint price among all sales.
That South Pas number mirrors a more regional trend, in which the median price of a home in Southern California hit an all-time high of $541,250 last month, according to a published report quoting CoreLogic, a real-estate data firm. In Los Angeles County, that number was $610,000, reports said. Orange County checked in with an average price of $738,000 — tops in Southern California.
Overall in South Pasadena this June, 12 homes changed hands compared to 20 a year ago — a dip of 40 percent. But the flip side of that is that pending sales increased from seven to 16, or more than 128 percent.
In total dollars, the June 2019 sales number of $20.8 million (“closed sales volume”) was down 21.6 percent from the June 2018 figure of nearly $26.6 million.
However, the pending sales in So Pas jumped from June to June by somewhere north of 106 percent, from $9.1 million to about $18.6 million, PFAR data show.
There were 13 new South Pasadena listings this June compared to 17 a year ago, with the number of active listings at 20 this June compared to 24 in 2018.
Cumulatively over the first six months of the year, the PFAR number show, the median sales price in South Pasadena increased from about $1.26 million in 2018 to about $1.34 million this June, a bump of about 5.9 percent.
See the accompanying chart for other specific data related to South Pasadena. More information on real-estate trends in South Pasadena as well as other cities in the area can also be found on pfar.org.