Let’s dive into the numbers for the Pasadena housing market in March 2022:
Last month, 77 homes sold in Pasadena, showing a strong and active real estate market. Of these, 62 homes sold over the asking price, indicating ongoing buyer competition and a high demand for homes in the area. This is a significant percentage, reflecting the market’s continued favor toward sellers. Meanwhile, three homes sold at the asking price, suggesting that some buyers were willing to meet the seller’s expectations without pushing for a reduction. On the other hand, 12 homes sold for less than the asking price, which might indicate that some buyers found opportunities to negotiate in certain segments of the market.
Interestingly, only five homes had price reductions before ultimately selling. This is a low number, showing that most homes in Pasadena are priced appropriately and selling quickly without needing adjustments. It’s a sign of a well-balanced market where sellers are pricing their homes strategically to attract offers. Overall, the data highlights a competitive market where homes are largely selling above asking price, with minimal need for price cuts, making it a strong time for sellers in Pasadena.
The price per square foot ranges from $393.96 to $1,441.52. A five-bedroom, three-bathroom home located at 619 N. Oakland sold for $393.96 per foot. 1939 Devon Rd., a three-bedroom two- bathroom home, sold for $1,441,52 per foot. Last month, the least expensive home sold in Pasadena was a two-bedroom, one-bathroom, 672 square foot home located at 446 Anderson Pl. Listed at $475,000, it sold for $550,000. The most expensive sale was a five- bedroom, six-bathroom, 5,540 square-foot home located at 622 Landlor Ln. Listed at $6,995,000 and selling for $7,000,000.
