How’s Pasadena’s real estate market looking as we head into the Spring selling season?
Hi it’s Eva Lin with my monthly market update to keep you in the loop.
The first thing to note is that houses have finally started to sell more quickly in Pasadena.
From December through February, the market had a drastic slow down, even beyond what we’d expect for the winter season.
In December, at the median, it took 35 days for a house to go into escrow. January was basically the same and in February it took 22 days.
These are all very high numbers relative to have the market performed over the last two years.
But, things shifted in March with houses going into escrow after just 13 days at the median.
At the same time, the number of new listings hitting the market has risen from 58 in January, to 67 in February, and 85 in March.
So, as more houses are hitting the market, the speed of sales is simultaneously increasing.
This is good news for home sellers because it shows that buyer demand is still solid and spring market conditions are balanced.
In part, this is due to the fact that inventory remains quite limited.
Consider that during the first quarter of 2025, Pasadena averaged 154 homes for sale–and this number would have been higher if not for the Eaton Fire.
During the first quarter of this year, we’ve averaged just 127 homes for sale.
That’s a 17% year-over-year drop in inventory, which is limiting options for buyers and driving more competition.
But, at the same time, there are fewer buyers in the market due to higher interest rates and general economic uncertainty.
So, this is leaving us with a relatively balanced market heading into the spring season.
Another important data point to be aware of is the Selling Price vs. Asking Price %.
At the median, in December, January, and February, Pasadena homes were selling below asking.
But, in March, sale prices were averaging higher than asking prices.
This is another good sign for homeowners who are considering a sale in the coming months.
If you’d like to discuss the best way to approach this market strategically, whether selling or buying, I invite you to reach out to me.