Still a seller’s market — but the leverage is quietly shifting. | Prices are holding on a plateau while nearly a quarter of listings cut their asking price. For buyers, that’s an opening. For sellers, it’s a reason to price sharply from day one. Here’s where Pasadena stands this week. | The Market at a Glance (Pasadena single-family homes) | Metric | This week |
|---|
Median list price | $1,675,000 | Price / sq. ft. | $854 | Median days on market | 42 | Homes for sale | 133 | Median rent | $3,950 | Market Action Index | 45 — Strong Seller’s Market (down from 46) |
| What the numbers are telling us | Buyers are gaining room to negotiate. 23% of active listings have reduced their price this cycle, while only 1% raised. Price-per-square-foot has eased to $854, so larger homes are coming available and buyers are stretching their dollar further. | Well-priced homes still move fast. The upper-mid tier — 4-bedroom homes around $2M — is the quickest-selling segment in the city, going pending in roughly 28 days. Sharp pricing and strong presentation are rewarded; overreach gets cut and relisted. | Segment | Median | Beds | Days on Market |
|---|
Luxury | $4,872,500 | 5 | 45 | Upper-Mid (fastest) | $2,049,000 | 4 | 28 | Mid | $1,389,000 | 3 | 42 | Entry | $999,900 | 3 | 42 |
| Rate Watch | 30-year fixed: 6.43% — national average, Freddie Mac PMMS, week of 7/2/2026. | The 30-year fixed eased to a seven-week low, down from 6.67% a year ago; the 15-year averaged 5.79%. The Fed held its benchmark at 3.50–3.75%. Modest as they are, these dips are nudging affordability — and buyer demand — in the right direction. | As a licensed mortgage advisor, I shop conventional, FHA, VA, jumbo, and non-QM / DSCR options to find pricing built around your scenario — not a one-size headline rate. If you’re buying, refinancing, or financing an investment property, a five-minute conversation will tell you exactly where you stand today. | What this means for you | Buyers → More inventory and softer price-per-foot mean real negotiating room. Get pre-approved now so you can move decisively on the right home. | Sellers → Homes priced right sell in weeks; those that reach get cut and relisted. Let’s price to the current market, not last spring’s. | Investors → Median rent of $3,950 and easing rates keep the numbers workable. Ask me about DSCR financing for your next acquisition. | Get Your Numbers → HopewayRealtyGroup.com |
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