Pasadena real estate stats for July 2018. Last month, eighty-five Pasadena homes closed escrow. Selling prices ranged from $520,000 for a 1,646 square foot two-bedroom, one bath on Prescott St. to $5,000,000 for a 4,466 square foot six bedroom, six bath estate on Oak Knoll Ave. Let’s take a closer look at Pasadena real estate stats for July 2018:
Fifty Pasadena homes sold over the asking price, eleven at the listed price, and twenty-four for less than asking. Most Pasadena homes continue to sell quickly and often in multiple offers.
The lack of real estate inventory in most of Los Angeles is wreaking havoc on 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. Our mid-century Pasadena fixer sold with a handful of offers over the asking price.
I just read that average couples need to save twenty percent of their income for six years to amass enough for a down payment. No easy feat while presumably paying high California rent. A very generic statement but you get the idea.