Pasadena Homes for Sale & Real Estate Listings

In September 2024, Pasadena’s housing market saw a notable increase in home prices, with a 9.7% rise compared to the previous year, bringing the median sale price to $1.2M. Homes in Pasadena are selling slightly faster, staying on the market for an average of 31 days, down from 33 days in 2023. Despite the price surge, the number of homes sold dropped to 79 in September, down from 100 during the same month last year, indicating a tightening market. The median sale price per square foot also increased, reaching $777, a 5.7% growth year-over-year. These trends reflect strong demand, driving prices up while the number of available homes declines, creating a competitive environment for buyers.

Pasadena’s housing market is moderately competitive, with homes typically selling in about 34 days. While multiple offers aren’t the norm for every property, some homes do attract them, especially in desirable neighborhoods. On average, homes sell for about 4% above the list price, reflecting strong buyer interest. "Hot homes," however, move even faster, going under contract in around 20 days and often selling for as much as 10% above the asking price. This competitive edge shows that while the market offers some flexibility for buyers, sought-after properties can generate intense bidding activity and premium prices.

Nationwide, 5% of homebuyers are looking to relocate to Pasadena from other metropolitan areas. Among those, San Francisco homebuyers showed the most interest in moving to Pasadena, followed by buyers from New York and El Centro. This influx of interest from outside metros highlights Pasadena’s appeal as a desirable destination for those seeking a vibrant community with proximity to Los Angeles, combining both cultural attractions and high-quality living standards.