Below are the July 2008 home sales figures for Arcadia and a couple surrounding cities.
|
CITY |
HOMES SOLD | MEDIAN PRICE | YOY CHANGE |
| ARCADIA | 76 | $633,000 | -9.57% |
| TEMPLE CITY | 35 | $550,000 | -8.18% |
| MONROVIA | 37 | $488,000 | -9.96% |
| PASADENA | 117 | $510,000 | -23.52% |
| SOUTH PASADENA |
13 | $750,000 | -11.76% |
| SAN MARINO | 14 | $1,191,500 | -22.38% |
**Edit: Added Sierra Madre**
SIERRA MADRE 8 $800,000 -17.95%
Just found this. Hope it helps.
http://sastocks.files.wordpress.com/2008/06/t2_partners_presentation_on_the_mortgage_crisis_6_6_08.pdf
Woohoo, SoPas is down 11%, only 40% more to go!
Is the YOY change the Homes sold or the Median Price?
Thanks for the data. How about including Sierra Madre, too, next time?
Added!
Great analysis! I jumped straight to the section titled “How to Profit from this Downturn.”
$633k for Arcadia? Is this including unincorporated or are buyers able to get sellers down that far. I dont recall seeing a home at that price since the early 2000s. Condo sells must be included in those figures.
This data is inclusive of condos and PUDs for sure. A great deal of homes have sold for $650k-ish over the last 6 months. But they are mostly fixer-uppers, 50-80 years old and borderline Monrovia. $633k for a decent SFR home in Arcadia will happen when the condos and PUDs start hitting $400-500k.
Thank you, Arcadian. Those are high numbers for Sierra Madre.
No problem. I initially left the data out because so little homes were sold. But I guess sierra madre isn’t that big a city to begin with…
Very useful data for these cities from TheArcadian and also very informative presentation by T2 Partners LLC from YuLu. Great jobs.