Pasadena, CA Real Estate Listings & Homes for Sale

In September 2024, Pasadena's housing market experienced a notable increase, with home prices rising 9.7% compared to the previous year, reaching a median sale price of $1.2M. Homes in Pasadena are selling faster as well, with the average time on the market dropping to 30 days, down from 33 days in 2023. However, despite the price growth and quicker sales, the number of homes sold decreased, with 75 homes sold this September compared to 100 last year, indicating a tightening inventory. The median price per square foot also saw an increase, rising by 5.7% to $777, reflecting continued demand for quality properties in this desirable area. The market remains strong but competitive, with fewer homes available, contributing to rising prices and faster sales.

The Pasadena housing market is moderately competitive, with homes typically selling in around 35 days. While not all properties receive multiple offers, some do, especially in highly desirable areas. On average, homes sell for about 4% above the listing price and go under contract within approximately 35 days. However, "hot homes" can move even faster, often selling for as much as 9% above the list price and going pending in just 20 days. This competitive edge highlights the high demand for sought-after properties in Pasadena.

Nationwide, 5% of homebuyers are looking to relocate to Pasadena from other metropolitan areas. Among these, homebuyers from San Francisco show the most interest in moving to Pasadena, followed by those from New York and El Centro. This influx of interest from outside metros highlights Pasadena's growing appeal, particularly for those seeking a blend of historic charm, cultural amenities, and proximity to the greater Los Angeles area. Pasadena's attractive lifestyle and convenient location continue to draw interest from buyers across the country.