Answer:

You can list outdated packages by adding the --outdated flag to list commad

pip list --outdated

Output of the command will show the currently installed version and the latest available version.

Django (1.9.7) - Latest: 1.10 [wheel]
django-ckeditor (4.5.1) - Latest: 5.0.3 [sdist]
setuptools (23.1.0) - Latest: 25.2.0 [wheel]
virtualenv (15.0.2) - Latest: 15.0.3 [wheel]