$10,000 Closing Credit*
$1,750,000
Studio
JENNY WU, Listing Office: IDEAL REALTY
Is Pasadena, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Pasadena has remained a Seller's Market.
Key Takeaway
Pasadena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pasadena, CA
How much do homes in Pasadena, CA cost?
Median Sold Price
$1,204,134
$765/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$102,649(+9.3%)
Key Takeaway
Homes in Pasadena have sold for 9.3% more than they did a year ago.
Summary: The median home sold price in Pasadena was $1,204,134 in October 2024, up 9.3% from last year, and the median price per square foot was $765.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $657.7K | $654.2K | -0.5% |
| 2 Bedrooms | $872.5K | $889.4K | +1.9% |
| 3 Bedrooms | $1.2M | $1.3M | +11.6% |
| 4 Bedrooms | $1.8M | $1.9M | +6.4% |
| 5+ Bedrooms | $2.5M | $2.7M | +10.7% |
Summary: Pasadena housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
| San Marino | $2.5M | $2.9M | +13.2% |
| Pasadena | $1.1M | $1.2M | +9.3% |
| Altadena | $1.3M | $1.4M | +7.7% |
| La Canada Flintridge | $2.2M | $2.4M | +6.7% |
| South Pasadena | $1.5M | $1.6M | +2.8% |
Housing Supply in Pasadena, CA
How many homes are available in Pasadena, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 362 | 378 | +4.4% |
Summary: The Pasadena real estate market had 378 homes for sale in October 2024, a 4.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 34 | 38 | +11.8% |
| 2 Bedrooms | 120 | 109 | -9.2% |
| 3 Bedrooms | 124 | 124 | 0.0% |
| 4 Bedrooms | 41 | 52 | +26.8% |
| 5+ Bedrooms | 43 | 55 | +27.9% |
Summary: The Pasadena housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.8%, 2 bedroom homes decreased by 9.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 26.8%, and 5+ bedroom homes increased by 27.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 85 | +1.2% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pasadena, you could pay more than the asking price. 44.7% of homes here sold above asking price last month.
Summary: A total of 85 homes were sold or pending in Pasadena in October 2024, up by 1.2% month-over-month. Of the 85 sold homes, 44% were sold under asking, 12% were sold at asking, and 45% were sold over asking.
Days on Market for Pasadena, CA
How long does it take to sell a home in Pasadena, CA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 40 Days | +21.8% |
Summary: Homes in Pasadena had an average of 40 days on market in Oct 2024, up by 21.8% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pasadena are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 85 homes were sold in Pasadena; 60% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.