Pasadena Real Estate: A Look at the Numbers

Pasadena is considered a powerful city located just ten minutes northeast of Los Angeles. The city has earned a reputation as one of the cultural centers of the region. As a result of this, not to mention the fact that the city itself is remarkably planned with beautiful streets and neighborhoods, homes in Pasadena have become a great investment. Why? Because Pasadena is an exceptional place to live, as the numbers show.

Located in the northeast along the San Gabriel Mountains and the Arroyo Seco River, Pasadena is an oasis that many people and businesses have called home. As the 183rd largest city in the US, Pasadena is packed with interesting and valuable amenities like Old Town Pasadena, Rose Bowl, Pasadena Playhouse, and Norton Simon Museum. Of course, like many cultural destinations, how artistic the streets are reflects the art in the city and the homes and Pasadena is about an artistic life.

This explosion of culture over many decades has produced many variations of home styles, including Midcentury, Spanish Revival, Cottages, and Victorians. Subsequently, Pasadena was one of the leading entities of the Arts & Crafts movement in the early 20th century. This resulted in a mass production of American Craftsman and Bungalow style homes.

Pasadena has worked hard to preserve these rarities by establishing laws and ordinances to preserve important areas such as historic districts. For example, “Bungalow Heaven” is a collection of 800 Craftsman homes that were built between 1900 and 1930 and have been legally protected since 1989. Pasadena offers tours of these preserved homes to provide a unique experience for tourists and residents alike.

Searching for real estate in Pasadena is all about the desire to own and live in some of these fabulous homes that often go up for sale. When they do, they don’t last long and the final sale price is usually much higher than what was asked for. Bidding wars for homes for sale in Pasadena are the rule, not the exception. Pasadena’s top real estate agents stay busy and alert.

According to the 2000 United States Census, Pasadena had a population of 134,941 people. Spread over 25.15 square miles, there were approximately 5,366 per square mile, this is the Los Angeles County average. The median income was $ 62,825, which is the county average. The average household size was 2.5 people, which is a low number for Los Angeles. has given Pasadena a score of 66 out of 100. This means that Pasadena is somewhat walkable and some errands can be completed on foot. Pasadena has a bike score of 72 out of 100, which means a bike is very convenient to have. Public transportation is very accessible in Pasadena. The Los Angeles Metro Gold Line Rail has six stations in Pasadena. In addition to the Los Angeles metropolitan buses that serve the city, Pasadena has its own bus system: Pasadena Transit. Four major highways run through Pasadena, including the Foothill Freeway (I-210), the Ventura Freeway (SR-134), the Long Beach Freeway (SR-170), and the Arroyo Seco Parkway (SR-110).

Zillow estimates that the median home value in Pasadena is $ 720,300. This is a 5.5% increase from last year’s average. Zillow predicts that this rate will increase 1.9% over the next year to $ 734,000. The median listing price per square foot is $ 538, which is higher than the Los Angeles average of $ 390. The current market temperature in Pasadena is “very hot,” meaning it is an ideal market for sellers. The median price of homes currently listed is $ 799,000, while the median rental price is $ 2,600. This is lower than the Los Angeles median of $ 2,995. Compared to other markets nationwide, Pasadena’s Market Health is a 7.9 / 10. Only 8.6% of listings get a price cut and 4.1% of homes are selling below their price. of previous sale. Due to the bustling nature of this beautiful city, we expect Pasadena to continue to be a strong competitor in the housing market.