Let’s dive into the Pasadena housing market for October 2021:
Last month seventy-two homes closed escrow. Average days on market was 26 days. Of these sales, forty-nine sold over asking, three at asking and twenty below the asking price. Nine of these homes had price reductions prior to selling.
The least expensive Pasadena sale was a two bedroom, one bathroom, 858 square foot home located at 1148 Lincoln Ave. It sold for $670,000. Originally listed at $605,000 this starter home sold in nine days.
The most expensive home sold was an eight bedroom, seven bathroom, 7,479 square foot estate located at 880 La Loma Road which sold for $8,000,000.
Take away from this Pasadena housing market update for October 2021:
The absorption rate remains very low. The selling price to list price ratio is high. This is a very difficult market for Pasadena home buyers.