Let’s look at the Pasadena, CA, Housing Market for May 2021. Like in April this year, eighty-seven homes were sold in May. Sixty-seven of these sold for over their asking price. Four are at asking price and sixteen are less than the asking price. Nine of the eighty-seven homes sold had price reductions before eventually selling.
The least expensive home sold in May 2021 was a two-bedroom, one-bathroom, 720-square-foot home located at 1865 Mentone Ave. It was listed for $550,000 and sold for $630,000. The most expensive home sold last month was a six-bedroom, six-bathroom, 7,421-square-foot home located at 661 Landor Lane. It sold for $9,800,000. This is the highest Pasadena sale to date in 2021.
The average sales price per square foot and median selling price are the highest year to date. Days on the market are the lowest for 2021.
The National Association of REALTORS released their annual profile of buyers and sellers. Because of the pandemic, this year’s findings were, of course, different. Typically, most sellers move to be nearer to family. But at the onset of the pandemic more sellers stated their current home was too small rather than wanting to be near family members. Nationwide, the final sales price for all homes sold over the past year was an average of 99% of the final listing price.
