Pasadena is considered a powerhouse 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 a great 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 where many people and businesses have called home. As the 183rd largest city in the US, Pasadena is packed with exciting and valuable amenities including Old Town Pasadena, the Rose Bowl, the Pasadena Playhouse, and the Norton Simon Museum. Of course, like many cultural destinations, how artistic are the streets that reflect the art of the city and homes, and Pasadena is all about artistic life.
This explosion of culture over many decades has produced many variations of home styles, including mid-century, Spanish Revival, cottage, and Victorian. Subsequently, Pasadena was one of the main entities of the Arts & Crafts movement in the early 20th century. This resulted in the mass production of American Craftsman and Bungalow style houses.
Pasadena has worked hard to preserve these rarities by establishing laws and ordinances to preserve important areas as historic landmark districts. For example, “Bungalow Heaven” is a collection of 800 Craftsman houses that were built between 1900 and 1930 and have been legally protected since 1989. Pasadena offers tours of these preserved houses to provide a unique experience for tourists and residents alike. .
Searching for Pasadena real estate is all about wanting to own and live in some of these fabulous homes that often come up for sale. When they do, they don’t last long and the final sale price is often much higher than what was asked. Bidding wars for houses for sale in Pasadena are the rule, not the exception. Pasadena’s best real estate agents keep busy and on their toes.
As of the 2000 US 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 average for Los Angeles County. Median income was $62,825, which is the county median. The median household size was 2.5 people, which is a low number for Los Angeles.
WalkScore.com has given Pasadena a score of 66 out of 100. This means that Pasadena is somewhat walkable and some errands can be accomplished on foot. Pasadena has a bike score of 72 out of 100, which means it’s very convenient to have a bike. 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 Metro Buses that serve the city, Pasadena has its own bus system: Pasadena Transit. Four major freeways 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 this rate will rise 1.9% over the next year to $734,000. The average 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,” which means it’s an ideal market for sellers. The median home price currently listed is $799,000 while the median rental price is $2,600. This is lower than the Los Angeles average of $2,995. Compared to other markets across the country, Market Health of Pasadena is a 7.9/10. Only 8.6% of listings get a price reduction and 4.1% of homes sell below their previous asking price. Due to the bustling nature of this beautiful city, we expect Pasadena to continue to be a strong competitor in the real estate market.
