Now that summer is over, the market is slowing…. fewer closings and days on the market are increasing a bit.
Although the percentage of selling price to list is a robust 99.72%, it’s the lowest of the year. Fewer homes are selling for over the asking price, and Pasadena homes are taking longer to sell.
28% of Pasadena home sales are to cash buyers. The absorption rate of 1.91% indicates a solid seller’s market (lack of inventory). Short sales and REOs (foreclosures) continue to impact the Pasadena real estate market little.
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