Is Pasadena, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pasadena is a seller's market

Buyer's
Market

Difference Since October 2022

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

How much do homes in Pasadena, CA cost?

Median Sold Price

$1,102,771

$725/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2022

+$3,208(+0.3%)

Key Takeaway

The sold price of homes in Pasadena has remained the same since last year.

Summary: The median home sold price in Pasadena was $1,102,771 in October 2023, up 0.3% from last year, and the median price per square foot was $725.

Median Sold Price By Bedroom Count

# BEDSOct 2022Oct 2023CHANGE
1 $575K$657.7K
+14.4%
2 $850K$869.8K
+2.3%
3 $1.2M$1.2M
-3.6%
4 $1.6M$1.8M
+10.2%
5+ $2.8M$2.4M
-12.6%

Summary: Pasadena housing prices by bedroom type for October 2023 compared to the previous year: The home price of 1 bedroom homes increased by 14.4%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 10.2%, and 5+ bedroom homes decreased by 12.6%.

Median Sold Price Compared To Nearby Cities

Altadena
+2.0%
South Pasadena
+1.8%
Pasadena
0.3%
La Canada Flintridge
-1.1%
San Marino
-6.1%

Housing Supply

How many homes are available in Pasadena, CA?

Number of Homes For Sale

Sep 2023Oct 2023CHANGE
328320-2.4%

Summary: The Pasadena real estate market had 320 homes for sale in October 2023, a 2.4% decrease compared to September 2023.

Homes For Sale By Bedroom Count

# BEDSSep 2023Oct 2023CHANGE
1 2022
+10.0%
2 103100
-2.9%
3 124113
-8.9%
4 4042
+5.0%
5+ 4143
+4.9%

Summary: The Pasadena housing inventory by bedroom type for October 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 10%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes decreased by 8.9%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 4.9%.

Number of Homes Sold

Sep 2023Oct 2023CHANGE
10379-23.3%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

43 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pasadena, you could pay more than the asking price. 54.4% of homes here sold above asking price last month.

Summary: A total of 79 homes were sold or pending in Pasadena in October 2023, down by 23.3% month-over-month. Of the 79 sold homes, 35% were sold under asking, 10% were sold at asking, and 54% were sold over asking.

Days on Market

How long does it take to sell a home in Pasadena, CA?

Average Sale Time

Oct 2022Oct 2023CHANGE
23 Days33 Days+44.7%

Summary: Homes in Pasadena had an average of 33 days on market in Oct 2023, up by 44.7% compared to last year.

Breakdown of Home Sale Times

47 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pasadena are selling fast, if you're buying plan to act quickly.

Summary: During October 2023, 79 homes were sold in Pasadena; 59% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

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