Let’s dive into the Pasadena housing market for October 2021:
Last month, seventy-two homes closed escrow. The average days on the market were 26 days. Of these sales, forty-nine sold over asking, three at asking, and twenty below the asking price. Nine of these homes had price reductions before selling.
The least expensive Pasadena sale was a two-bedroom, one-bathroom, 858-square-foot home located at 1148 Lincoln Ave. It sold for $670,000. Originally listed at $605,000, this starter home sold in nine days.
The most expensive home sold was an eight-bedroom, seven-bathroom, 7,479-square-foot estate located at 880 La Loma Road, which sold for $8,000,000.
Take away from this Pasadena housing market update for October 2021:
The absorption rate remains very low. The selling price to list price ratio is high. This is a very difficult market for Pasadena home buyers.
