PASADENA AND GIBSON ISLAND HOUSING MARKET DATA

There was a decrease in total units sold in February, 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 22% versus February 2024.

The total number of homes available this month is 72 units, which is similar compared to a year ago. This month's total of 72 is lower than the previous month's total supply of available inventory of 93, a decrease of 23%.

Last February, the median sale price for Pasadena and Gibson Island Homes was $425,000. This February, the median sale price was $469,366, an increase of 10% or $44,366 compared to last year. The current median sold price is 1% lower than in January.

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

In February, there was 1.4 months of supply available in Pasadena and Gibson Island, compared to 1.8 in February 2024. That is a decrease of 18% versus 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 55 homes newly listed for sale in Pasadena and Gibson Island compared to 48 in February 2024, an increase of 15%. There were 62 current contracts pending sale this February compared to 42 a year ago. The number of current contracts is 48% higher than last February.

In February, the average sale price in Pasadena and Gibson Island was 99.5% of the average list price, which is 3.0% lower than at this time last year.

This month, the average number of days on market was 26, lower than the average last year, which was 35, a decrease of 26%.





FOCUS ON: PASADENA AND GIBSON ISLAND HOUSING MARKET			FEBRUARY 2025

Zip Code(s): 21122 and 21056
Units Sold 50	Active Inventory 72	Median Sale Price $469,366	Days On Market 26

Up 22% Vs. Year Ago	No Change Vs. Year Ago	Up 10% Vs. Year Ago	Down -26% Vs. Year Ago


		Units Sold There was a decrease in total units sold in February, 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 22% versus February 2024.
Active Inventory The total number of homes available this month is 72 units, which is similar compared to a year ago. This month's total of 72 is lower than the previous month's total supply of available inventory of 93, a decrease of 23%.
		Median Sale Price Last February, the median sale price for Pasadena and Gibson Island Homes was $425,000. This February, the median sale price was $469,366, an increase of 10% or $44,366 compared to last year. The current median sold price is 1% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 55	Current Contracts 62	Sold Vs. List Price 99.5%	Months of Supply 1.4

Up 15% Vs. Year Ago	Up 48% Vs. Year Ago	Down -2.9% Vs. Year Ago	Down -18% Vs. Year Ago


		Months of Supply In February, there was 1.4 months of supply available in Pasadena and Gibson Island, compared to 1.8 in February 2024. That is a decrease of 18% versus 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 55 homes newly listed for sale in Pasadena and Gibson Island compared to 48 in February 2024, an increase of 15%. There were 62 current contracts pending sale this February compared to 42 a year ago. The number of current contracts is 48% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Pasadena and Gibson Island was 99.5% of the average list price, which is 3.0% lower than at this time last year. Days on Market This month, the average number of days on market was 26, lower than the average last year, which was 35, a decrease of 26%.


	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.