Pasadena real estate prices projected to continue their rise

Pasadena real estate prices, driven up partially by low inventory earlier this year, are expected continue rising over the next year.

According to the latest  REALTORS® Confidence Index, agents  expect home prices to increase modestly across the US. The median price is expected to see an increase of about 3.9 percent.  In California, however, we’re likely to see a larger increase.

Pasadena real estate prices a result of economy, demand

We could see a 5 percent to 7 percent increase over the next 12 months. This is great news for home sellers of Pasadena real estate. For buyers, though, it means digging a little deeper for funds and more competition for the home you want to buy.

To get an idea of what your home might be worth on the Pasadena real estate market, fill out the “Sell My Home” form to receive a free analysis from Classic Pasadena Homes that can help determine your home value based on market trends, comparable neighborhood home values and other factors.

With homes in high demand, and  the overall recovery of the housing market and economy, Pasadena real estate prices should continue their rise through 2014.

Chris Reisbeck is a Pasadena real estate agent. Read more of his blogs on Classic Pasadena Homes.