How's The Market? 91104 Real Estate Market Update
After a quick review of the latest Altos report, we can see Pasadena zip code 91104 (home to Bungalow Heaven) is coming out of the winter slumber. We saw a flurry of new listings come on to the market right at the beginning of the year.
Highlights:
-The time it takes to sell a home in 91104 has dropped from 107 days to 86 days. I predict the quick sales we saw in January will continue to drop this number.
-Median list price and price per square foot has jumped ($808K to $844K and $499 to $546) proving if you are considering selling, now is the time to do it.
The incredible demand for housing and a lack of options for homebuyers remains, what is new is the very real threat of increasing mortgage rates. Housing prices are predicted to continue to increase slightly but with lessening growth than in months past with the only dark cloud on the horizon being a possible nationwide drop in the summer of 2019. If and how that will affect 91104 and Bungalow Heaven is up for debate.
Here is the Altos Report for the first week of February 2018. To enlarge the image, just click on it.
About Altos Reports:
Real estate values in Bungalow Heaven seem to continue to climb, but over-pricing can leave your home unsold. Knowing the market is what The Bungalow Agent does, and he can share some of his special tools with any homeowner.
The best market insight comes from a source called an Altos Reports. These real-time reports are generated from the data in the active market, which is data collected locally and nationally. This gives a well-rounded market view void of a local bias.
The report will give the current stats on Days on Market or DOM (how long a house takes to sell), Median Sales Price, Price Per Square Foot (PPSF) for the entire Bungalow Heaven zip code of 91104.
If you have questions about the market for Pasadena real estate or Bungalow Heaven real estate, feel free to Contact Bungalow Agent for the latest report.