Pasadena Housing Statistics February 2022

Let’s dive into the Pasadena Housing Statistics February 2022:

Last month, sixty-six homes sold. The housing market is very competitive – especially in Pasadena. Forty-four of these homes sold over the asking price. Five of these Pasadena sales sold at the asking price. Seventeen below the asking price. Just six of these sold homes had price reductions before selling.

Last month, the least expensive home sold was a two-bedroom, one-bathroom, 672-square-foot home located at 446 Anderson Place.  This home sold for $550,000, while the original asking price was $450,000. The most expensive Pasadena home sale was a six-bedroom, six-bathroom, 4,820 square-foot home located at 650 Landor Lane. This home sold off the market for $6,000,000.

The median price of $1,346,250 indicates that one-half of the sales are more and one-half less.  The low absorption rate indicates that if there were no more listings, Pasadena’s inventory would be depleted in one and one-half months.  Our benefit in compiling these Pasadena monthly housing statistics is we become experts in Pasadena real estate. We just opened escrow representing a Pasadena buyer and know firsthand how competitive this market is for buyers.

The average price per square foot was $818.05.  The average price per square foot ranged from $501.54 for a three bedroom, two bath 1299 square foot home. The highest price per square foot was $1,248.61 for a 901-square-foot home.