Is Pasadena, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Pasadena has remained a Seller's Market.
Housing Prices in Pasadena, CA
How much do homes in Pasadena, CA cost?
Median Sold Price
$1,175,416
$736/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Pasadena was $1,175,416 in February 2024, up 6.9% from last year, and the median price per square foot was $736.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $575K | $680K | +18.3% |
2 Bedrooms | $851.5K | $885K | +3.9% |
3 Bedrooms | $1.2M | $1.2M | +0.7% |
4 Bedrooms | $1.7M | $1.8M | +7.2% |
5+ Bedrooms | $2.7M | $2.4M | -13.2% |
Summary: Pasadena housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.3%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes decreased by 13.2%.
Median Sold Price Compared To Nearby Cities
Pasadena | $1.0M | $1.1M | +6.9% |
La Canada Flintridge | $2.2M | $2.3M | +3.5% |
Altadena | $1.3M | $1.3M | +1.0% |
South Pasadena | $1.5M | $1.5M | 0.2% |
San Marino | $2.7M | $2.7M | -1.8% |
Housing Supply in Pasadena, CA
How many homes are available in Pasadena, CA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
248 | 252 | +1.6% |
Summary: The Pasadena real estate market had 252 homes for sale in February 2024, a 1.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 18 | 20 | +11.1% |
2 Bedrooms | 79 | 80 | +1.3% |
3 Bedrooms | 89 | 93 | +4.5% |
4 Bedrooms | 26 | 28 | +7.7% |
5+ Bedrooms | 36 | 31 | -13.9% |
Summary: The Pasadena housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes decreased by 13.9%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
59 | 67 | +13.6% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 67 homes were sold or pending in Pasadena in February 2024, up by 13.6% month-over-month. Of the 67 sold homes, 30% were sold under asking, 12% were sold at asking, and 58% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
52 Days | 26 Days | -50.1% |
Summary: Homes in Pasadena had an average of 26 days on market in Feb 2024, down by 50.1% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During February 2024, 67 homes were sold in Pasadena; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.