Let’s dive into the Pasadena Housing Market for November 2021:
Last month, eighty-one homes closed escrow. Fifty-nine of these homes sold for over their asking price. Twelve at asking and just ten less than the asking price. Eleven of the eighty-one homes sold had price reductions before eventually selling.
The least expensive home sale was a one bedroom, one bathroom, 630 square foot home located at 449 N. Hill Ave. for $520,000. Two homes were sold for $6,000,000, the most expensive sales last month. The first was a five-bedroom, six-bathroom, 6,116 square-foot home located at 1330 Wentworth Ave. The second was a five-bedroom, three-bathroom, 3,242-square-foot home located at 1585 Lomabardy Rd.
Price per square foot ranged significantly, with the high end reaching $1,850.71 for the luxury sale on Lombardy. On the other hand, the low end came in at $421.02 for a spacious seven-bedroom, four-bath home situated at 1591 Wesley Ave. This property spans 2,969 square feet, offering substantial space at a more affordable rate.
Meanwhile, days on market continue to stay impressively low, averaging less than one month. As a result, the average selling price to list price ratio has climbed to its highest point of the year. This indicates strong demand and competitive market conditions.
