As a Pasadena real estate expert, it’s important for me to stay on top of current market trends. Pasadena housing market for January 2023, twenty-five homes sold. Last January, there were sixty-one Pasadena home sales.
The least expensive home sold in Pasadena in January 2023 was a one-bedroom, one-bathroom, 548-square-foot home located at 1099 E. Rio Grande St. Originally listed for $400,000, this home sold for $450,000 in only six days. The most expensive home sold was a four-bedroom, four-bathroom, 4,103 square-foot home located at 436 S. San Rafael Ave. It was listed for $6,500,000 and sold off the market for $6,248,000.
Why does a home sell off the market? There could be a variety of reasons. Sometimes a home seller wishes their sale to be more confidential. In other instances, an ideal offer may appear before it is listed in the multiple listing service (MLS).
When examining the Pasadena housing market for January 2023, it is interesting to look at the price per square foot. Price per square foot is not a good indicator of a home’s value unless you compare apples to apples. Last month the average price per square foot varied. The low was $409.36 for a five-bedroom, two-bath, 3,056-square-foot home on Oakland. On the high side was the luxury sale noted above on San Rafael. It sold for $1,522.79 per foot.
