South Pasadena Homes for Sale & Real Estate Listings

In October 2024, South Pasadena's housing market saw a significant shift, with home prices dropping 15.2% year-over-year to a median price of $1.4 million. This notable decline suggests a potential market correction or changes in buyer demand. Homes are taking considerably longer to sell, averaging 63 days on the market compared to just 24 days last year, reflecting a slower pace of transactions. Additionally, sales activity dipped slightly, with 13 homes sold in October 2024 compared to 15 in the same month last year. These trends indicate a market in transition, offering opportunities for buyers but signaling a more cautious environment for sellers.

South Pasadena remains a highly competitive housing market, with homes typically selling in just 32 days. Many properties attract multiple offers, often with waived contingencies, reflecting strong buyer demand. On average, homes sell for about 3% above their list price and go pending within a month, while "hot" homes—those most sought after—can command up to 8% above list price and go pending in as little as 23 days. This intense competition highlights the area's desirability and the need for buyers to act decisively.

In October 2024, South Pasadena, CA, was firmly a seller's market, with demand for homes outpacing the available supply. This competitive environment favors sellers, as eager buyers vie for limited inventory, often driving up prices and reducing the time homes spend on the market. For those considering selling, it's an ideal time to take advantage of strong buyer interest.