Let’s dissect the Pasadena Housing Market January 2021:
Last month sixty one homes closed escrow. Thirty-five homes sold over asking price and five at asking. Twenty sold for less than asking and three had price reductions prior to selling.
The least expensive sale was a two bedroom, one bath, 858 square foot home on Walnut St. for $510,000. The most expensive home sale was a four bedroom, four bathroom, 3,411 square foot home at 420 Lakeview Road which sold for the asking price $3,250,000. This luxury Pasadena home sold off market to a cash buyer.
Home sellers might believe that to get the most for their money, they should save on the commission. You typically get what you pay for, just like when selecting a doctor, attorney, or accountant. Sellers might think that with home selling at record levels, it really doesn’t matter which agent you select. But that couldn’t be farther from the truth. As your real estate agent, I help prepare your home to sell for the highest possible price. I help you navigate multiple offers and guide you through the escrow process. Once the buyer completes their inspection, my job is to protect your bottom line when negotiating repair requests. Shaving a percentage point off the commission can cost you tens of thousands of dollars to your bottom line.
Compare last year January to this January 2021. It is a great time to be a Pasadena home seller. Most homes are selling quickly, for over asking price and there is little competition.
“At the start of the pandemic, many braced for a Great Recession-era collapse of the housing market. However, market conditions leading into the crisis — namely low home supply, desire for more space and millennial demand — amplified the rapid acceleration of home prices.”
-Frank Martell
President and CEO of CoreLogic
