Is Pasadena, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Oct 2022 | Oct 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $575K | $657.7K | +14.4% |
| 2 Bedrooms | $850K | $869.8K | +2.3% |
| 3 Bedrooms | $1.2M | $1.2M | -3.6% |
| 4 Bedrooms | $1.6M | $1.8M | +10.2% |
| 5+ Bedrooms | $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 | $1.2M | $1.3M | +2.0% |
| South Pasadena | $1.5M | $1.5M | +1.8% |
| Pasadena | $1.0M | $1.1M | 0.3% |
| La Canada Flintridge | $2.3M | $2.2M | -1.1% |
| San Marino | $2.7M | $2.5M | -6.1% |
Housing Supply
How many homes are available in Pasadena, CA?
Number of Homes For Sale
| Sep 2023 | Oct 2023 | CHANGE |
|---|---|---|
| 328 | 320 | -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
| # BEDS# BEDROOMS | Sep 2023 | Oct 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 22 | +10.0% |
| 2 Bedrooms | 103 | 100 | -2.9% |
| 3 Bedrooms | 124 | 113 | -8.9% |
| 4 Bedrooms | 40 | 42 | +5.0% |
| 5+ Bedrooms | 41 | 43 | +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 2023 | Oct 2023 | CHANGE |
|---|---|---|
| 103 | 79 | -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
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 2022 | Oct 2023 | CHANGE |
|---|---|---|
| 23 Days | 33 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
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.
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.