I am not a conspiracy theorist, but a 28% increase in Pasadena real estate values seems eerily frightening. However, a closer analysis reveals that while 25% of Pasadena home sales were short sales or foreclosures last year, this September (2013), these distress sales represented less than 5% of the Pasadena real estate market.
September 2012, there were 68 Pasadena homes sold at an average price per square foot of $344.21, average days on market was 86, average selling price was $729.75. Last year the average Pasadena home sold for 98.74% of list price.
Have Pasadena real estate prices peaked? The average price per foot and selling price decreased from August. We’ll have to compile September’s numbers to take a better look.
