Real estate values continue to hold their own and Pasadena is no exception. Last month, (May 2017), there were 105 Pasadena home sales – homes which closed escrow. The “average” home sold was 2255 square feet which would buy the “average” $1,263,115 home.
The cheapest Pasadena home sale was 2064 N. Summit which sold for $275,000 – interesting, it was listed and sold by the same Realtor. The only other Pasadena home to sell for under $400,000 this year was a much smaller home located at 1658 Glen Ave., located on a larger lot and selling for $382,000. That’s all I know, but certainly seems off.
Three homes sold over $3,000,000, the most expensive home to sell was 561 Woodland, which closed escrow for $5,000,000.
It continues to be a seller’s market and a very difficult one for first time home buyers.