Last month, ninety-one Pasadena homes closed escrow, up from last month. Selling prices ranged from $475,000 for a 1,096 square foot two-bedroom, one bath on Mataro St., to $5,850,000 for a 6,327 square foot five bedroom, six bath estate on San Rafael Ave. Let’s take a closer look at Pasadena housing stats for May 2018:
Fifty Pasadena homes sold over the asking price, eight at the listed price, and thirty-three for less than asking.
The lack of real estate inventory in most of Los Angeles is wreaking havoc for LA real estate home buyers. Sadly, the homeownership rate is at its lowest point since 1965. Owning a home is becoming more and more elusive. And housing prices continue to escalate. Successful home buyers are allowing seller rent backs, shortening contingency periods and in some instances waiving most contingencies and sometimes even writing non-contingent offers. It’s extremely competitive as you can see by the abnormally low absorption rate.
We are working on a Pasadena mid-century listing in mostly original condition. It will be a fantastic home for one lucky buyer. Call for details….
Just wondering if the two bedroom and others like it are also selling quickly in this heated market. It used to be much harder to sell anything that didn’t have at least three bedrooms
Starting housing is the hottest market at this point. Anything mildly affodable