South Pasadena Market Report | December 2022


Glossary (data as reflected in a given month):

  • New Listings – homes newly listed for sale.
  • Pending Sales – a count of the homes that have accepted contracts and are in escrow.
  • Closed Sales – count of the actual home sales closed.
  • Days on Market – this metric reflects the median number of days between the home’s initial listing and offer acceptance.
  • Median Sales Price – midpoint where half of the homes sold were priced higher, and half were priced lower.
  • Average Sales Price – mean sales price for all closed sales.
  • Price per Square Foot – this metric reflects the median value, based upon sold data; the midpoint at which half of the homes sold were priced higher and half-priced lower, divided by the number of square feet.
  • Inventory – number of homes available for sale in an active status at the end of the month.
  • Months Supply of Inventory – also known as the absorption rate. The available inventory of homes on the market at month’s end, divided by the average monthly pending sales from the previous twelve months.