Pasadena real estate stats for July 2018. Last month, eighty-five Pasadena homes closed escrow. Selling prices ranged from $520,000 for a 1,646 square foot two-bedroom, one bath on Prescott St. to $5,000,000 for a 4,466 square foot six bedroom, six bath estate on Oak Knoll Ave. Let’s take a closer look at Pasadena real estate stats for July 2018:
Pasadena Real Estate Stats For The Month of July 2018 Recap:
In Pasadena, the real estate market pulses with intensity. Fifty homes soared past their asking prices, thrilling sellers. Meanwhile, eleven sold precisely at the listed price. However, twenty-four dipped below, reflecting varied buyer strategies. Most Pasadena homes vanish quickly, often sparking fierce bidding wars with multiple offers.
Across Los Angeles, a dire shortage of real estate inventory wreaks havoc. Home buyers scramble, facing relentless competition. Tragically, the homeownership rate plummets to its lowest since 1965. For many, owning a home feels increasingly out of reach, a fading dream. In Pasadena, demand surges for charming bungalows, historic craftsman homes, and modern condos alike.
Our mid-century Pasadena fixer proved the market’s heat. It drew a flurry of attention, closing with several offers well above the asking price. Strategic pricing and targeted marketing, including virtual tours and professional staging, fueled the frenzy. Buyers, captivated by Pasadena’s tree-lined streets and cultural vibrancy, pounced on the opportunity.
Yet, the inventory crunch persists, pushing prices higher. First-time buyers struggle most, often outbid by cash offers or investors. Still, savvy sellers seize the moment, leveraging the seller’s market to maximize profits. As Pasadena’s real estate frenzy continues, bold strategies and quick action unlock success. Now beckons the time to dive into this dynamic market with confidence!
I just read that average couples need to save twenty percent of their income for six years to amass enough for a down payment. No easy feat while presumably paying high California rent. A very generic statement but you get the idea.