Is 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, Pasadena has remained a Seller's Market.
Housing Prices in Pasadena, CA
How much do homes in Pasadena, CA cost?
Median Sold Price
$1,200,000
$748/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Pasadena was $1,200,000 in May 2024, up 12.1% from last year, and the median price per square foot was $748.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $616K | $685K | +11.2% |
2 Bedrooms | $849K | $892.7K | +5.2% |
3 Bedrooms | $1.2M | $1.3M | +7.0% |
4 Bedrooms | $1.7M | $1.9M | +11.6% |
5+ Bedrooms | $2.5M | $2.7M | +11.2% |
Summary: Pasadena housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 5.2%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 11.2%.
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% |
La Canada Flintridge | $2.2M | $2.3M | +4.7% |
Altadena | $1.3M | $1.3M | +3.7% |
Housing Supply in Pasadena, CA
How many homes are available in Pasadena, CA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
302 | 329 | +8.9% |
Summary: The Pasadena real estate market had 329 homes for sale in May 2024, a 8.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 28 | 30 | +7.1% |
2 Bedrooms | 95 | 108 | +13.7% |
3 Bedrooms | 92 | 99 | +7.6% |
4 Bedrooms | 49 | 49 | 0.0% |
5+ Bedrooms | 38 | 43 | +13.2% |
Summary: The Pasadena housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.1%, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 13.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
86 | 92 | +7.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
65 Homes Were Sold
Over Asking
Summary: A total of 92 homes were sold or pending in Pasadena in May 2024, up by 7.0% month-over-month. Of the 92 sold homes, 21% were sold under asking, 9% were sold at asking, and 71% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
30 Days | 32 Days | +4.3% |
Summary: Homes in Pasadena had an average of 32 days on market in May 2024, up by 4.3% compared to last year.
Breakdown of Home Sale Times
74 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 92 homes were sold in Pasadena; 80% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.