Has Pasadena Real Estate Reached "the Bottom"?

The million dollar question right now is when will the bottom of the real estate market be? At what point will the decline in home values reach its lowest point and begin climbing again? In the minds of millions of buyers this is the most important question for their home search.

For Pasadena, CA real estate that time may be now. I’ve done some market analysis recently and discovered that median home prices have turned upward for the first time in over a year. The chart below shows the 90 day average price of homes for sale in Pasadena.

Even more interesting is the drop in inventory of active homes for sale that has happened in recent weeks for Pasadena. It’s basic capitalism that when supply drops and demand stays roughly the same that a price increase is soon to follow.

We’re keeping an eye on the market so we can provide the most current information to our clients so they can take full advantage of the great deals we find here in Pasadena.