Current Pasadena Real Estate Market Overview
Median Home Price: As of February 2025, the median home price in the Pasadena real estate market stands at $1.347 million, reflecting a 5.6% increase year-over-year.
Days on Market: Homes in Pasadena are selling faster, with an average of 29 days on the market, down from 31 days the previous year.
Sale-to-List Price Ratio: Approximately 63% of homes sold above the asking price in February 2025, indicating strong buyer demand.
Buyer Dynamics
Mortgage Rates: The 30-year fixed mortgage rate has decreased to 6.68%, the lowest in three months, making loans in the Pasadena real estate market more affordable.
Inventory Levels: While inventory has increased by 18.8% from January to February 2025, it remains below the 5-6 months of supply needed for a balanced market. Check out our buyer resources for more information.
Seller Dynamics
Pricing Strategy: Homes that are well-priced continue to sell quickly, often above the asking price. However, overpricing can lead to extended time on the market. Learn more about selling your home.
Fire-Affected Areas: Properties in areas impacted by the Eaton Fire, such as Altadena and northern Pasadena, have seen a decline in sales, initially reducing the Pasadena real estate market supply. Sellers in these regions may need to offer incentives or adjust pricing strategies to attract buyers.
Pasadena Real Estate Market Outlook
Buyer Sentiment: Despite lower mortgage rates, 76% of consumers believe it’s not a good time to buy, citing high home prices as a significant concern.
Future Projections: If inflation continues to cool, mortgage rates may decline toward 5.5% by late 2025, potentially improving affordability for buyers.
Conclusion
Pasadena’s real estate market in Q2 2025 presents opportunities for both buyers and sellers. Buyers can benefit from lower mortgage rates and increased inventory, while sellers can capitalize on strong demand and competitive pricing. However, both parties must remain vigilant of market dynamics and adjust strategies accordingly to navigate the evolving landscape. View more about the Pasadena Real Estate Market on Redfin. For personalized advice or assistance with buying or selling in Pasadena, feel free to reach out to Rose City Homes.
