Is South Pasadena, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Pasadena has remained a Seller's Market.
Housing Prices in South Pasadena, CA
How much do homes in South Pasadena, CA cost?
Median Sold Price
$1,725,000
$875/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Pasadena was $1,725,000 in May 2024, up 11.3% from last year, and the median price per square foot was $875.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $640K | $803.7K | +25.6% |
2 Bedrooms | $860K | $1.0M | +25.1% |
3 Bedrooms | $1.5M | $1.7M | +12.0% |
4 Bedrooms | $2.1M | $2.1M | 0.0% |
5+ Bedrooms | $2.8M | $3.0M | +6.1% |
Summary: South Pasadena housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.6%, 2 bedroom homes increased by 25.1%, 3 bedroom homes increased by 12%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
San Marino | $2.5M | $2.9M | +13.6% |
Pasadena | $1.0M | $1.2M | +12.1% |
South Pasadena | $1.5M | $1.7M | +11.3% |
Alhambra | $801.6K | $860K | +7.3% |
Southwest San Gabriel Valley | $808.5K | $866.6K | +7.2% |
Housing Supply in South Pasadena, CA
How many homes are available in South Pasadena, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
38 | 49 | +28.9% |
Summary: The South Pasadena real estate market had 49 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 6 | 10 | +66.7% |
3 Bedrooms | 15 | 18 | +20.0% |
4 Bedrooms | 9 | 15 | +66.7% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The South Pasadena housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
9 | 11 | +22.2% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in South Pasadena in May 2024, up by 22.2% month-over-month. Of the 11 sold homes, 18% were sold under asking, 9% were sold at asking, and 73% were sold over asking.
Days on Market for South Pasadena, CA
How long does it take to sell a home in South Pasadena, CA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 31 Days | +156.3% |
Summary: Homes in South Pasadena had an average of 31 days on market in May 2024, up by 156.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in South Pasadena; 73% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.