Last month there were 63 Pasadena real estate sales (single family homes). Selling prices ranged from $414,900 – $5,900,000. The spring housing market is quickly heating up due to lack of Pasadena real estate inventory and rising prices.
The inability for supply to meet demand continues to drive prices higher. The largest factor driving prices up is the lack of listings. At the end of the fourth quarter, there were 1.65 million homes available for sale, 6.3% less than the same quarter a year earlier and the lowest level since the National Association of Realtors began tracking the supply of all housing types in 1999. The shortage of homes for sale has pushed prices to a 30-year high, according to CoreLogic. Rising interest rates increase the pressure for home buyers in all Los Angeles markets.
Interested in learning more about Pasadena real estate and listings? Call Phyllis @ 818 790-7325