Pasadena condos continue to fare well in 2013 in most of the city, and particularly in zip code 91104. In that area, more sales demand and fewer listings have contributed to a relatively long run of increasing prices. The median listing price stands at $436,950 this week, according to Altos Research Real-Time Real Estate Data.
There’s plenty of reason to be optimistic about Pasadena condos in the coming weeks, as well. All but one zip code –91105 – are considered seller’s markets, meaning the Market Action Index, which measures supply vs. demand, is at a score of 30 or higher. A seller’s market means sellers have more leverage when negotiating a deal because typically there is more competition for the home because of fewer listings and/or more interested buyers.
To see a breakdown of Pasadena zip codes and condo marketing trends, visit my Pasadena Condos blog.
Comments(3)