Here is a summary of the Pasadena real estate market for October 2023. Pasadena homes continue to sell quickly and most over the asking price. Twenty Pasadena homes sold over the asking price. Five at asking. However, eighteen homes sold for less than the asking price.
The least expensive home sold in Pasadena was a one-bedroom, one-bathroom, 840 square foot home located at 225 Ohio St. Initially listed for $525,000 and sold in ten days for $645,000. The most expensive home sold was a five-bedroom, five-bathroom, 3,672-square-foot located at 918 Linda Vista Ave. This luxury home was listed and sold for $5,800,000.
To remain a Pasadena real estate expert, I need to dive deep into these numbers. When analyzing the Pasadena real estate market for October 2023, it’s interesting to note the disparity in the price per square foot. The highest price per square foot was $1,589.91 for the above-mentioned luxury sale. On the low end was a 2,587-square-foot home located on Marengo. It sold for just $425.20 per foot.
The change I have noticed is that buyer demand is very strong for move-in ready homes. Likely this is due to the higher interest rates and buyers desire to make as large of a down payment as possible to try to keep their monthly payment “affordable”.