Here is what we hear from our fellow California Realtors:
- A slowdown in sign calls and listing appointments
- Multiple offers have declined.
- Some price reductions
- Market competition has eased.
However, here in Pasadena, the news is different:
- We do not yet see a slowdown in calls to our office or listing appointments;
- Most prices are remaining firm, but because of our high prices, affordability is a major concern.
- The lack of listing inventory continues to create overbidding and multiple offers on most well-priced properties. This continues to be our industry’s biggest concerns.
- Open house traffic is strong.
Some interesting notes about California real estate activity:
- Thirty-seven percent of properties sold below asking price.
- The average amount of discount for these properties was 12%.
- Thirty-one percent of properties sold above asking price.
- The average premium was 12% over asking price.
- Sixty percent of properties received multiple offers.
- Thirty-eight percent of these got three or more offers, the average being 2.7 offers per property.
- The percentage of properties selling at asking price was 32%.
- Twenty-three percent of listings had price reductions.
Plumbid – a new and innovative way to market and sell your home!
Thanks for reading about the latest stats for California real estate! How would you like to be among sellers who receive multiple offers from well-qualified buyers? Here’s a way to get 12% or more over asking price for your home. We recently sold a private view home for that amount over the list price because of the Plumbid bidding process. And buyers were solid — fully qualified and informed about the property before they could bid. Our company has sold others, all above asking price, all to vetted buyers. Check here, or call or text the deFazios for more information at 626-825-9955.
And, if you are moving to Pasadena, we can help you. With more than 50 years of combined experience, we know the territory and can find the best property for you.
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