To be a Pasadena real estate expert, it’s important for us to stay on top of the Pasadena housing market.
Let’s dissect the latest Pasadena housing market report for April 2023. The number of homes sold decreased. While the average sales price surged upwards, the median value declined. The median value indicates one-half of the Pasadena sales were over $1,311,300 and the other half less. The number of days on the market remained the same. The housing inventory continues to be tight, indicating a seller’s market.
Out of the total forty-six homes sold last month, twenty-eight sold above the asking price, four for the asking price, and the remaining 14 sold below the asking price. Last month, the least expensive home sold in Pasadena was a two-bedroom, three-bathroom, 1,782-square-foot home located at 1899 Belmont Ave. This home was initially listed for $659,000 and sold in twenty-three days for $650,000. The most expensive home sold was a five-bedroom, six-bathroom, 5,986-square-foot home located at 714 Heatherside Rd. This luxury home sold in five days for its asking price of $5,995,000.
When analyzing the Pasadena housing market April 2023, it’s important to look at the average price per square foot. Once again, the average selling price per square foot varied greatly. On the low end, a two-bedroom three-bath sold for $364.76 per foot. On the high side was a 1908 square-foot home selling for $1,425.58 per foot.