A look at the Pasadena CA real estate market shows up that the city, as well as its closest neighbors in San Gabriel Valley, have been experiencing cooling conditions in recent weeks. The position of the Pasadena area markets in the seller’s zone is protecting them somewhat from drastic price drops, though we are beginning to see that shift in some areas. As of this week, La Canada Flintridge is leading the pack for highest median home price.
Pasadena CA real estate: By the numbers
This data comes courtesy of Altos Research Real-Time Real Estate Data. The numbers below represent conditions for the past week. The figures were released Feb 3.
PASADENA
The median list price this week is $724,950. Inventory is going up, and the market is cooling a bit as demand lessens. We’re already seeing prices moving lower.
Average days on market: 93
Asking price per sq foot: $442
Market Action Index score: 42.1
SOUTH PASADENA
The median listing price is $1,102,500, as of Feb. 3. The market has been cooling in recent weeks, and it’s beginning to reflect in lowering prices.
Average days on market: 51
Asking price per sq foot: $508
Market Action Index score: 45.1
SAN MARINO
The median list price this week is $1.538 million. Home sales are exceeding inventory, but prices have not yet stopped falling. The market is in a seller’s zone, so prices should level off soon.
Average days on market: 108
Asking price per sq foot: $541
Market Action Index score: 44.1
LA CANADA FLINTRIDGE
The median listing price this week is $1,599,000. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We're already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer's zone.
Average days on market: 98
Asking price per square foot: $569
Market Action Index score: 34.1
ALTADENA
The median listing price this week is $599,000. Just as in San Marino, the market is cooling but it’s position as a seller’s market has prevented a price drop. It may take a few more weeks of slack demand to see an effect on home prices.
Average days on market: 72
Asking price per sq foot: $381
Market Action Index score: 48.5
Trends for Pasadena CA real estate can change from one week to the next, so keep watching our blog for regular updates. Visit my Pasadena CA real estate search to see what's available on the market now.
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