“Home prices in the Los Angeles market rose 10.5 percent in the 12 months ending June. The home price index in the Southern California metro region rose only 1.1 percent from April to May, and 0.6 percent from May to June…… Price appreciation slowdown, taken with positive indicators on housing starts, existing home sales and builders’ sentiment, point to a more normal housing sector going forward, Blitzer said. “(Read the rest here )
So how are Pasadena real estate prices faring? The average price per square foot slightly decreased as did the average selling price.
23% of last month’s Pasadena sales were to cash buyers.
The average Pasadena home is on the market for 43 days (2 day increase from last month). The absorption rate is down, noting a stronger seller’s market (strongest for the year).
Last July, 98 Pasadena homes sold, average price per sq ft $454, average days on market 47, average selling price $996,848, average selling price to list price 102%.
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