Pasadena Home Stats March 2018: Last month, 69 Pasadena homes sold. They ranged in price from $270,000 for a one-bedroom and one-bath home on Garfield Ave. On the high side of $3,500,000 for a four-bedroom and four-bath luxury home on Crystal Lane.
The low absorption rate reflects a robust market for Pasadena home sellers. This figure serves as a crucial indicator of market conditions. It measures the speed at which available homes are selling. In Pasadena, the current absorption rate suggests robust demand and limited inventory.
Pasadena Home Stats March 2018 Recap:
If no new listings were to hit the market, the existing inventory in Pasadena would completely deplete in just over two months. This rapid turnover underscores how quickly buyers are snapping up properties. Sellers benefit greatly from this environment, often receiving multiple offers within days of listing.
Most Pasadena homes continue to sell quickly. Well-maintained and competitively priced properties rarely stay on the market for long. In fact, many sell for over the asking price. Buyers frequently engage in bidding wars, driving up final sale prices. As a result, sellers enjoy stronger negotiating power and greater returns.
These conditions illustrate the strength of Pasadena’s real estate market. High demand, low inventory, and swift sales create an ideal home seller environment.
The Pasadena real estate market bottomed in 2012. For ten years, I have been crunching Pasadena housing numbers; the average price per square foot of Pasadena homes is at a ten-year high!
