If you had to make an attempt at describing the activity for the month of April in the Pasadena housing market a few words come to mind……stable, holding, and steady. These words are a little misleading in the sense that they are more descriptive than they sound.
Although they don’t indicate it, these terms are expressive due to the fact that the real estate prices in Pasadena have maintained the momentum they began to gather in March. As if we ever would have thought that just maintaining the status quo would become the new black.
The sales results for April were as close of a mirror image to March as we are likely to see. Sales held steady with about 100 units sold, while the median price dipped to $462,500 from $475,000 last month. A rounding error by previous calculations.
There are a few bright spots beginning to appear such as:
- The units that moved from “back up” to “pending” increased significantly indicating home buyers are feeling confident about their purchase and full y intend to close escrow
- The number of Townhome and Condominium units in escrow increased while prices appear to be bouncing off of the bottom.
All of the data is recapped in the 13 slides below including 5 year charts and graphs. Median prices and monthly unit sales recapping the Pasadena real estate market provide “at a glance” snapshots indicating the highs and lows. Click the icon in the lower right corner to view in full screen mode.
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