Pasadena, CA Real Estate for Sale

In October 2024, Pasadena home prices experienced a slight decline, with the median price falling 3.5% year-over-year to $1.1 million. Homes in Pasadena sold in an average of 46 days, slightly longer than the 44-day average from the previous year, indicating a slight cooling in the market's pace. Notably, 91 homes were sold this October, a significant increase from the 76 homes sold during the same month last year, suggesting a boost in buyer activity despite the price adjustments. This increase in transactions may reflect growing demand or more inventory becoming available.

Pasadena's real estate market is moderately competitive, with homes typically selling within 39 days. Many properties attract multiple offers, highlighting steady buyer interest. On average, homes sell for approximately 3% above their listing price and go under contract in about 39 days. However, in-demand "hot" homes perform even better, selling for up to 8% above list price and going pending in as little as 20 days. This dynamic suggests that well-priced, desirable properties move quickly, while other homes may take slightly longer to secure a buyer. This blend of activity makes Pasadena appealing for both buyers seeking opportunities and sellers looking for strong market performance.

In October 2024, Pasadena, CA, was a seller's market, indicating high demand with more buyers actively searching for homes than there were properties available. This competitive environment often leads to quicker sales and higher prices, making it an opportune time for homeowners to list their properties. Buyers, on the other hand, may face challenges such as bidding wars and limited inventory, requiring strategic offers and swift decision-making to secure a home.