Pasadena June 2015 Real Estate Statistics: Each month, Harb and Co. analyzes the previous month’s Pasadena real estate statistics. We take time to study the numbers carefully. Why? Because staying on top of market trends helps us guide our clients with confidence. In June 2015, the absorption rate dropped below a two-month supply. That’s a strong seller’s market. With limited inventory, serious buyers act fast and compete fiercely.
This gives sellers a clear advantage; however, strategy matters. Now more than ever, we must price homes just below market value. This approach sparks interest, creates urgency, and, most importantly, leads to multiple offers and, often, sales over asking price. At Harb and Co., we don’t guess. We analyze, adapt, and position our sellers to win.
When working with buyers we know the strength of the market and can better advise on pricing strategies during multiple offers.
Pasadena June 2015 Real Estate Statistics Recap:
The absorption rate is 1.75 %—a more normal rate would be four or more months’ supply of real estate listings. The median selling price is the highest year to date. The definition of median is that half the homes sold for more than $863,250, and half sold for less than $863,250.
