Let’s dissect the numbers for the Pasadena Housing Market September 2020. The least expensive home sold was a three bedroom, one bathroom, 1,120 square foot home at 421 N. Carmelo Ave. which sold for $640,000. The most expensive sale was a five bedroom, five bathroom, 5,212 square foot home located at 400 S. San Rafael. This gorgeous estate sold for the asking price of $6,600,000.
The Pasadena housing market is on fire! Last month sixty-seven Pasadena homes sold which is slightly less than the last few months. Thirty-seven of these homes sold over their asking price. Eight sold for asking. Twenty-two sold below the asking price.
Since the Great Recession of 2008, the real estate market has rebounded nicely to say the least. In fact, as home prices continue to climb, it has become increasingly difficult for the average American to afford to purchase a home. Simply put, home prices are increasing at a faster rate than income. From 2017 to 2018, the median home price increased 5.1% while household income increased only 0.8%. Read the rest here
The coronavirus pandemic has upended the lives of millions of Americans and forced many to reevaluate how they want to live their lives—and where they want to do it. Every year, Livability.com publishes its list of the 100 best places to live in the U.S., but this year, the landscape has totally changed. With home prices reaching new heights in many parts of the country and many big-city amenities shut down, many home buyers are looking for places where they can get a large house for an affordable price. Read the rest here