PASADENA AND GIBSON ISLAND HOUSING MARKET DATA

There was a decrease in total units sold in March, with 50 sold this month in Pasadena and Gibson Island Real Estate versus 51 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 6% versus March 2024.

Versus last year, the total number of homes available this month is higher by 2 units or 2%. The total number of active inventory this March was 88 compared to 86 in March 2024. This month's total of 88 is lower than the previous month's total supply of available inventory of 94, a decrease of 6%.

Last March, the median sale price for Pasadena and Gibson Island Homes was $449,000. This March, the median sale price was $476,000, an increase of 6% or $27,000 compared to last year. The current median sold price is 2% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

In March, there was 1.8 months of supply available in Pasadena and Gibson Island. The amount of supply is similar compared to a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

This month there were 88 homes newly listed for sale in Pasadena and Gibson Island compared to 78 in March 2024, an increase of 13%. There were 81 current contracts pending sale this March compared to 58 a year ago. The number of current contracts is 40% higher than last March.

In March, the average sale price in Pasadena and Gibson Island was 100.8% of the average list price, which is 2.2% higher than at this time last year.

This month, the average number of days on market was 13, lower than the average last year, which was 37, a decrease of 65%.





FOCUS ON: PASADENA AND GIBSON ISLAND HOUSING MARKET			MARCH 2025

Zip Code(s): 21122 and 21056
Units Sold 50	Active Inventory 88	Median Sale Price $476,000	Days On Market 13

Up 6% Vs. Year Ago	Up 2% Vs. Year Ago	Up 6% Vs. Year Ago	Down -65% Vs. Year Ago


		Units Sold There was a decrease in total units sold in March, with 50 sold this month in Pasadena and Gibson Island Real Estate versus 51 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 6% versus March 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 2 units or 2%. The total number of active inventory this March was 88 compared to 86 in March 2024. This month's total of 88 is lower than the previous month's total supply of available inventory of 94, a decrease of 6%.
		Median Sale Price Last March, the median sale price for Pasadena and Gibson Island Homes was $449,000. This March, the median sale price was $476,000, an increase of 6% or $27,000 compared to last year. The current median sold price is 2% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 88	Current Contracts 81	Sold Vs. List Price 100.8%	Months of Supply 1.8

Up 13% Vs. Year Ago	Up 40% Vs. Year Ago	Up 2.2% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In March, there was 1.8 months of supply available in Pasadena and Gibson Island. The amount of supply is similar compared to a year ago. Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.
New Listings & Current Contracts This month there were 88 homes newly listed for sale in Pasadena and Gibson Island compared to 78 in March 2024, an increase of 13%. There were 81 current contracts pending sale this March compared to 58 a year ago. The number of current contracts is 40% higher than last March.
		Sale Price to List Price Ratio In March, the average sale price in Pasadena and Gibson Island was 100.8% of the average list price, which is 2.2% higher than at this time last year. Days on Market This month, the average number of days on market was 13, lower than the average last year, which was 37, a decrease of 65%.


	Pasadena and Gibson Island are defined as properties listed in zip code/s 21122 and 21056.
	*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
	Information included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.