Median Home Price in Pasadena Surpasses $1 Million

For the first time ever, the median price of homes sold in Pasadena has exceeded $1 million, according to 2020/2021 property tax data provided to the city by a consultant and published last week.

Sale prices have risen as the number of sales declined significantly due to COVID-19 stay-at-home orders.

The smaller inventory and lower interest rates from January through September drove the median sale price of a detached single-family residential home in Pasadena up to $1,050,000, a $93,000 (9.7 percent) increase in median sale price from 2019.

“It doesn’t surprise me, because supply continues to be limited relative to demand,” said Pasadena realtor Bill Podley of deasy penner podley. And that will continue “until more homeowners decide to sell or relocate,” Podley said.

“I’m really addressing this more from the more senior population because we’re all aware — and my understanding is this is true over much of the United States — that people just aren’t selling like they used to,” Podley said.

“It used to be people move about every seven years, and now it’s closer to every 20,” he said.

To read the full article visit their website here.

You Might Also Like...
Recent Posts

Modernist Houses For Sale in Sunny California

By Ellie Stathaki Few places capture the public imagination like California. The Golden State on the American West Coast is the stuff of myth, movie and modernism; and these modernist houses – which are currently up for sale – could be just the excuse to make the move. The Allan F Daily Residence, Glendale This California gem… Keep reading

Deasy Penner Podley Welcomes Partner Lamar Bontrager

deasypennerpodley is excited to announce Lamar Bontrager as a new agent to our Pasadena family. Lamar started his real estate career in South Carolina, soon after purchasing his third home. It was then when he saw the need for well-informed real estate agents who have experience in construction and home remodeling. After achieving his real… Keep reading

Deasy Penner Podley Welcomes Partner Samuel Vaden

deasypennerpodley is excited to announce Samuel Vaden as a new agent to our Santa Monica family. A second-generation real estate professional, Samuel Vaden brings more than a decade’s worth of experience to his clients interested in buying or selling luxury residential properties, pied-à-terres and design-centric, architecturally-significant estates. Samuel brings an unconventional approach to the real… Keep reading