Pasadena Home Values
Pasadena Home Values April 2017
The average Pasadena home is selling in just over one month. This quick turnaround highlights strong demand. Many homes are receiving multiple offers. As a result, most sellers are getting more than their asking price. Competitive bidding is driving up final sale prices. Additionally, the median selling price has reached its highest point so far this year. This milestone reflects the balance of sales. Half of Pasadena homes are selling for over $879,000. The other half are closing for less. The median price is a key barometer of local market values. It provides a clearer snapshot than the average selling price. That’s because a few multi-million-dollar sales can heavily influence the average.
Pasadena Home Values April 2017 Recap: Pasadena’s low absorption rate signals a strong seller’s market. Homes are moving quickly, and inventory is limited. This trend gives sellers the advantage. Home prices have also surged since the market bottomed out. According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, values are nearly 40% higher than in February 2012. Some markets have seen even greater increases. This steady climb reflects robust growth and renewed confidence in real estate.
For more information on Pasadena and vicinity home values, call Phyllis @ 818 790-7325
