Last month, seventy-four Pasadena homes closed escrow, up from last month. Selling prices ranged from $558,000 for a 760 square foot 2 + 1, to $4,900,000 for a 5,916 square foot 5 + 7 estate. Let’s take a look at Pasadena housing stats for April 2018:
Forty-two Pasadena homes sold over the asking price, two at the listed price, and thirty for less than asking.
The lack of real estate inventory in most of Los Angeles is wreaking havoc for LA real estate home buyers. Sadly, the home ownership rate is at its lowest point since 1965. Owning a home is becoming more and more elusive. And housing prices continue to escalate. Successful home buyers are allowing seller rent backs, shortening contingency periods and in some instances waiving most contingencies and sometimes even writing non-contingent offers. It’s extremely competitive.
Unfortunately rent is formidably high as well. Our young adults will have their work cut out for them
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