Pasadena Housing Stats January 2019: Selling prices ranged from $525,000 for a two-bedroom, 720 sq ft home on Corson St. to $5,990,000 for a five-bedroom, eight-bath, 7,491 sq ft estate on Hillcrest Ave.
Last month, thirty-nine homes closed escrow. One-third of these Pasadena homes had price reductions before opening escrow. The average price per square foot was $535.14, and the average days on the market was 53. The average Pasadena selling price was $1,146,510. The selling price to list price (average) was 97.36%, and the absorption rate was 4.87%. The median selling price was $870,000. Compare to last year’s Pasadena housing stats:
In December, the Pasadena real estate market showed mixed results. Thirteen homes sold for over the asking price. This suggests continued strong buyer demand, even during the holiday season. Twenty homes sold for less than the asking price, indicating some price adjustments. Six homes sold at the asking price, reflecting a balanced negotiation.
The holiday season often impacts the real estate market. Fewer homes are listed in December as sellers typically hold off until after the holidays. Many buyers are also less active during this time, focused on family and holiday events. However, those who do buy in December tend to be more serious and motivated. This can create opportunities for sellers who price their homes well.
The December market is usually slower, but it can still yield positive results for sellers who understand how to navigate the season. While inventory is limited, strong demand for well-priced homes can still lead to successful sales.
