What’s happening in Pasadena’s real estate market as summer winds down?
Hi, it’s Eva Lin and this is my monthly market update to keep you informed so you can make the best financial decisions.
First of all, if you’re curious about how interest rate cuts could affect our local market in 2025, check out my update video from last month.
Today, I’ll cover the latest sales data for Pasadena.
The first thing to know is overall housing inventory has remained stable all spring and summer.
When we look at single family homes in Pasadena, the number of houses for has averaged around 170 since March and there hasn’t been much fluctuation.
The market followed a similar, flat trajectory during the same period last year and in 2023.
The only thing that’s been noticeably different in 2025 is…total inventory is up around 25%.
As far as the number of new listings goes, that number grew every month from January through May, and has fallen every month since then.
But what’s important to note about this is…as new listings have risen and fallen this year, the number of closed sales have followed suit.
Broadly speaking, this tells us that the market is balanced.
As more new houses hit the market, more buyers are jumping in to purchase them, so inventory doesn’t accumulate.
And when fewer houses are coming on the market, fewer sales are happening, so inventory isn’t falling.
At the end of the day inventory has remained stable and prices for the year have increased only modestly.
Now, things do get more nuanced when we zoom in on specific price segments.
But, to simplify things, just remember that with every jump in price category, the market shifts more toward a buyer advantage than a seller’s advantage.
That’s not to say that sellers aren’t still seeing great outcomes in the mid to high price categories, though.
For example, I just helped my clients at 1370 Hillcrest Avenue sell their gorgeous Pasadena home for $9.625M.
Scott & Lannette received multiple offers and aggressive negotiating pushed the sale price over the already strong asking price.
At the same time, my clients at 624 Camino Cerrado received 16 offers on their South Pasadena home and opened escrow after just 10 days.
The final sale price of $2.8M exceeded everybody’s expectations and they’re thrilled with the result.
In both of these cases, a great outcome was achieved by strategic pricing, carefully crafted marketing, and powerful negotiating.
As Pasadena’s top selling agent year after year, I negotiate and close far more sales…and this allows me to give my clients a serious advantage.
This also means I know our local market inside and out, including intel on off-market properties, which is of huge benefit to my home buyers.
If you’d like to discuss your upcoming home sale or purchase I invite you to reach out to me.