Let’s compare the Pasadena real estate market from January 2025 to January 2024. Twenty-eight homes sold last month, down from thirty-five in January last year. Seventeen buyers paid over the asking price for these homes, three met the asking price, and eight purchased below it.
On the low end was a four-bedroom, two-bath home at 1815 Mountain St., selling for just $526.53 per foot. On the high end was a three-bedroom, two-bath home at 1525 Coolidge Ave., selling for $1,318.64 per foot.
The least expensive home sold last month in Pasadena was a one-bedroom, one-bathroom, 572-square-foot home located at 2016 Glen Ave. The seller initially listed it for $699,999 and sold it in just ten days for $735,000. The most expensive home sold was a four-bedroom, six-bathroom, 5,007-square-foot home located at 470 Bradford St. It was initially listed for $4,750,000 and sold in forty-four days for $4,650,000.
What the Absorption Rate Means:
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Seller’s Market (Less than 5 months): Demand exceeds supply. Sellers often receive multiple offers and may sell above the asking price.
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Balanced Market (5–6 months): Supply and demand are roughly equal, and negotiations tend to be more even.
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Buyer’s Market (More than 6 months): There is more supply than demand. Buyers have more choices and negotiating power, while sellers may need to adjust their expectations.
That’s a wrap on the Pasadena Real Estate Market for January 2025.
