What’s happening in Pasadena’s real estate market as fall kicks off?
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 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 sale has averaged around 170 since March with minimal fluctuation through August.
The market followed a similar, relatively flat trajectory during the same time period last year and in 2023.
The only thing that’s been noticeably different in 2025 is that overall inventory is up around 25%.
As far as the number of new listings goes, that number grew every month this year from January through May, and has fallen since then.
Important to note is that as new listings have risen and fallen this year, the number of closed sales has followed suit.
Broadly speaking, this mirroring of the supply (inventory) and demand (closed sales) trajectories tells us that the market is balanced.
This is why inventory has remained stable and prices for the year have increased only modestly.
Of course, things do become much more nuanced when we zoom in on specific price segments.
Simply put, with every jump in price category, the market shifts more toward a buyer’s advantage than a seller’s advantage.
That’s not to say that sellers aren’t still seeing great outcomes in the multi-million dollar price categories, though.
For example, I just helped my clients at 1370 Hillcrest Avenue sell their gorgeous Pasadena home for $9.6M.
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, which was listed at $2,250,000.
We opened escrow after just 10 days at a fantastic price.
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.