Let’s dive into the Pasadena real estate market for December 2023. The absorption rate was the lowest for the year, which is typical for the end of the year. Most Pasadena homes continue to sell over the asking price. Thirty of the fifty-two homes sold over their asking price. Six at the asking price, and sixteen under their asking price. A four-bedroom, three-bedroom home at 110 Backus Ave. sold for $477.94 per foot. A four-bedroom, three-bathroom at 1560 Ontario Ave. sold for $1,160.20 per foot. Located in the coveted Linda Vista Neighborhood, this home was listed at $2,250,000 and sold at $2,600,000.
The lowest-priced home sold in Pasadena last month was a one-bedroom, one-bathroom, 600-square-foot home located at 155 S. Halstead St. Initially listed for $475,000, it sold in nine days for $485,000. This was a probate sale and listed as “drive-by only”. Offers were subject to interior inspection, perhaps because the home was occupied.
One of the most expensive homes sold was a six-bedroom, eight-bathroom, 7,187-square-foot home located at 125 Arden Dr. Initially listed for $5,380,000, it sold in over three months for $5,280,000. The most expensive Pasadena sale in December 2023 was a 6200+ square foot home on Prospect selling off the market without multiple listing service exposure. It sold for $5,950,000. Another home on Cooley also sold off market.
I know probate sales are different but I was surprised by the drive by only listing. That’s a new one on me.