Harb & Co. loves number crunching! Let’s dive into the Pasadena Housing Market in June 2020:
The average and median selling prices are up from May to June. The absorption rate of 1.81% indicates a solid seller’s housing market in Pasadena.
Last month, the least expensive Pasadena sale was a one-bedroom, one-bath home, a 502-square-foot home on 591 E. Ashtabula St., which sold for $510,000. This starter home sold for the asking price. The most expensive Pasadena home sale was a six-bedroom, six-bath, 6,049 square-foot home located at 1200 S. Oak Knoll, which sold for $4,930,000.
Pasadena Housing Market June 2020 Recap:
While buyers eagerly seek Pasadena homes, many sellers hesitate to list. Consequently, inventory remains low. During these COVID times, safety protocols dominate. For instance, most occupied homes demand a prequalification letter before viewings. As a result, access is restricted. Meanwhile, the Pasadena Housing Market in June 2020 marks a new era. Traditionally, sellers aimed to maximize showings. Previously, open houses and broker caravans drove traffic. Now, the focus shifts. Specifically, sellers limit showings to qualified buyers. Therefore, only those ready to purchase today gain entry. This change reflects caution. Moreover, it prioritizes efficiency. Ultimately, the market adapts to pandemic challenges.
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