Is South Pasadena, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, South Pasadena has remained a Seller's Market.
Key Takeaway
South Pasadena is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in South Pasadena, CA
How much do homes in South Pasadena, CA cost?
Median Sold Price
$1,668,000
$865/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in South Pasadena have sold for 5.8% more than they did a year ago.
Summary: The median home sold price in South Pasadena was $1,668,000 in April 2024, up 5.8% from last year, and the median price per square foot was $865.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $640K | $809K | +26.4% |
| 2 Bedrooms | $861K | $1.0M | +17.7% |
| 3 Bedrooms | $1.5M | $1.7M | +11.1% |
| 4 Bedrooms | $2.2M | $1.9M | -15.8% |
| 5+ Bedrooms | $2.9M | $3.0M | +4.3% |
Summary: South Pasadena housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.4%, 2 bedroom homes increased by 17.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Pasadena | $1.0M | $1.1M | +12.0% |
| San Marino | $2.6M | $2.9M | +9.8% |
| South Pasadena | $1.5M | $1.6M | +5.8% |
| Alhambra | $801.6K | $842.5K | +5.1% |
| Southwest San Gabriel Valley | $818.3K | $860K | +5.1% |
Housing Supply in South Pasadena, CA
How many homes are available in South Pasadena, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 32 | 40 | +25.0% |
Summary: The South Pasadena real estate market had 40 homes for sale in April 2024, a 25.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 5 | 7 | +40.0% |
| 3 Bedrooms | 11 | 16 | +45.5% |
| 4 Bedrooms | 7 | 8 | +14.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The South Pasadena housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 40%, 3 bedroom homes increased by 45.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Pasadena, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in South Pasadena in April 2024, up by 133.3% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for South Pasadena, CA
How long does it take to sell a home in South Pasadena, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 11 Days | -37.9% |
Summary: Homes in South Pasadena had an average of 11 days on market in Apr 2024, down by 37.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Pasadena are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in South Pasadena; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.