On the original topic, for a Pathfinder game I'd agree with one of the above posters and just slap an extra couple of hundred gp onto the cost of another weapon to allow it to glow in the presence of a particular monster - in fact, unless the one particular monster the sword detects is a major foe in the campaign, glowing in the presence of one single monster probably isn't even worth charging for and is just an interesting quirk (or maybe +100 gp or something).
In previous editions of D&D, a sword with some type of passive creature detection ability usually detected a creature type, such as humanoids or giants. Now, if the sword detects humanoids and can differentiate between them (i.e., it can tell you whether the humanoids in the next room are goblins or bugbears), that's a bit more useful and might actually be worth more money.
In any event, you should probably give the weapon a detection range of at least 200-300 feet or more in order to make it useful.