Let’s look at the Pasadena Housing Market in December 2019: Sixty-five Pasadena homes closed escrow last month. Selling prices ranged from $590,000 for a three-bedroom one bath, 952 sq ft home on Elma Road to a six-bedroom, six-bath, 5,747 sq ft Colonial estate at 645 Landor Lane for $3,850,000.
Pasadena Housing Market December 2019 Recap
Forty-one Pasadena homes sold for over the asking price. Buyers competed fiercely, driving up final offers. Ten homes met the asking price exactly, showing strong demand and fair market value. Fourteen properties sold for less than the listed price, offering rare bargains in a competitive market.
Before selling, thirty-one of these Pasadena listings saw price reductions. Sellers adjusted their expectations to meet buyer demand. Despite these adjustments, the median selling price held strong at $1,070,000. This solid figure reflects the market’s resilience and high property values.
The absorption rate sits at just 1.57%, marking the lowest point in 2019. This low rate signals a clear advantage for sellers. Homes are moving quickly, and inventory remains tight. For Pasadena homeowners looking to sell, the timing couldn’t be better. The market favors you.
If you are considering moving in the New Year, call us at (818) 790-7325 to strategize.
