MARKET UPDATE | Q4 2013 pasadena five years of Average selling Prices | q4 $2,500,000
$2,000,000
$1,500,000
$1,000,000
A MESSAGE FROM OUR MANAGER: Jeff Maynard In the fourth quarter of 2013, four of the five areas in this market update – Pasadena, Altadena, San Marino and South Pasadena – enjoyed an increase in their average sales price leaving La Canada as the only area that cooled just a bit. Even though average sales price increased in most areas, the units sold in four of the five market areas were lower, with San Marino as the only area with a slight increase from the fourth quarter of 2012.
$500,000
$2009
2010 Altadena
La Canada
2011 Pasadena
2012 San Marino
2013
South Pasadena
Pasadena About the Area Pasadena is a world-class model of a successful
The story these multiple listing service numbers tell is one of supply vs. demand. These real estate markets had tremendous demand, but needed more homes to sell which is reflected in the volume drop from 2012 to 2013 in most areas. Many sellers during this time period enjoyed multiple offers from buyers, which often caused buyers to bid well over the asking price in an effort to beat out their competition.
urban community, and its distinctive quality of life is exemplified by its unparalleled beauty, culture and diversity. It is home to many scientific and cultural institutions.
AVerage Sale Price | Total SFH Sold | q4 350
$1,000,000 $900,000
The demand from foreign buyers has remained steady throughout the year for our area. The greater Pasadena area has always benefited from its proximity to downtown Los Angeles. With the relocation of the Lakers and the billions of dollars in redevelopment taking place in Los Angeles, our area makes perfect sense for so many to call home.
300
$800,000 $700,000
250
$600,000
200
$500,000 $400,000
150
$300,000
100
$200,000
50
$100,000
0
$-
All data within this document is pulled from the Pasadena MLS.
2009
2010
2011
Average Selling Price
pasadena brokerage 459 East Colorado Boulevard | t. 626.229.0909 sothebyshomes.com/pasadena Jeff Maynard, Vice President/Brokerage Manager 626.229.0909 | jeff.maynard@sothebyshomes.com
single family homes | Q4
2012
2013
Units Sold
2009
2010
2011
2012
2013
Units Sold Average Selling Price
225 $762,852
196 $709,395
188 $674,286
298 $739,716
251 $866,762
Average Listing Price
$848,809
$784,839
$717,740
$800,970
$997,117
Discount % Median
90% $605,000
90% $561,944
94% $554,500
92% $563,750
87% $699,000
Ave DOM
76
96
79
71
52
santa barbara altadena AVerage Sale Price | Total SFH Sold | Q4 $800,000
120
$700,000
100
$600,000 80
$500,000
About the Area Sited between the Arroyo Seco and Eaton Canyon, Altadena is rich in architecture and cultural heritage with its community’s unique
60
$400,000 $300,000
40
$200,000 20
$100,000
0
$-
qualities. Significant home styles from modest
2009
Craftsman bungalow to Italianate mansion and
2010
Average Selling Price
Modernist gems are present.
single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM
2011
2012
2013
Units Sold
2009
2010
2011
2012
2013
105 $577,711 $604,302 96% $532,193
88 $542,329 $570,514 95% $495,000
76 $557,138 $593,741 94% $500,000
107 $601,930 $623,979 96% $510,000
104 $695,144 $692,932 100% $553,250
69
80
75
60
44
san marino AVerage Sale Price | Total SFH Sold | Q4 45
$2,500,000
40 $2,000,000
35 30
$1,500,000
About the Area
25 20
$1,000,000
15
San Marino has designed its community to be uniquely residential, with expansive properties,
10
$500,000
5
surrounded by beautiful gardens with wide $-
streets, and well maintained parkways. This best
0 2009
exemplifies the charm and character that make
2010
Average Selling Price
the City an enjoyable place to live and work.
single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM
2011
2012
2013
Units Sold
2009
2010
2011
2012
2013
38 $1,727,009 $1,826,634 95% $1,595,000
18 $2,213,226 $2,324,833 95% $1,699,440
31 $2,107,945 $2,288,371 92% $1,600,000
33 $1,838,424 $1,835,327 100% $1,550,000
39 $1,998,054 $1,947,641 103% $1,818,000
55
56
88
51
42
Altadena | La Canada | Pasadena | San Marino | South Pasadena
la cañada flintridge AVerage Sale Price | Total SFH Sold | Q4 $1,600,000
70
$1,400,000
60
$1,200,000
50
$1,000,000
40
$800,000 $600,000 $400,000
30
About the Area
20
La Cañada Flintridge is a small and affluent city
10
$200,000
0
$2009
2010
2011
Average Selling Price
single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM
2012
in Los Angeles County nestled between the San Gabriel Mountains and Angeles National Forest on the north, and the San Rafael Hills on the
2013
south. The city is home to Descanso Gardens and
Units Sold
NASA’s Jet Propulsion Laboratory.
2009
2010
2011
2012
2013
54 $1,167,649 $1,275,019 92% $963,000
54 $1,277,369 $1,408,619 91% $1,100,000
33 $1,112,862 $1,185,150 94% $1,000,000
62 $1,504,019 $1,636,173 92% $1,170,000
54 $1,480,328 $1,539,704 96% $1,210,500
108
102
83
75
59
south pasadena AVerage Sale Price | Total SFH Sold | Q4 45
$1,400,000
40
$1,200,000
35
$1,000,000
30
$800,000
25
$600,000
20
About the Area
15
South Pasadena is known for its tree-lined
10
streets, historic California Craftsman-style
5
homes and unique small businesses. This small
0
town atmosphere makes the city one of
$400,000 $200,000 $2009
2010
2011
Average Selling Price
single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM
2012
2013
California’s most desirable locations and prides
Units Sold
itself on its small town character.
2009
2010
2011
2012
2013
27 $987,714 $1,093,132 90% $849,000
28 $843,865 $875,203 96% $823,750
24 $1,035,592 $1,082,450 96% $896,250
39 $1,074,551 $1,106,874 97% $850,000
31 $1,143,273 $1,144,671 100% $915,000
95
65
62
62
39
sothebyshomes.com/pasadena
ON THE MARKET FEATURED PROPERTIES pasadena, cA
Price: $1,500,000 web: 0277117
LISTINGS AROUND THE WORLD IN THIS PRICE RANGE in metropolitan markets
Houston
New York
San Francisco
4 br / 3 ba / 1 hf ba $1,875,000
1 br / 1 ba $1,645,000
1 br / 1 ba / 1 hf ba $995,000
SANTA FE
PALM BEACH
Santa Ynez
3 br / 3 ba / 1 hf ba $1,375,000
2 br / 2 ba $975,000
3 br / 3 ba $1,795,000
South Africa
Puerto Rico
Australia
5 br / 4 ba / 1 hf ba $1,500,306
4 br / 4 ba / 1 hf ba $1,850,000
2 br / 2 ba Price Upon Request
Agents: Deborah Maxson Best value for this exceptional townhouse. Featured are 3-bedrooms and 4-baths, a den, living room, dining room and much more. The interior is approximatley 3,966 sq.ft. with only three units in complex. Pasadena, cA
in resort markets
in foreign markets
Price: $1,088,000 web: 0276990 Agent: Roberta Baron Escape to your hideaway in the San Rafael Hills. Views to Downtown Pasadena. Move-in ready. Featured are 3-bedrooms and 3-baths.
AT sotheby’s AUCTION
Songye “Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000
sothebys.com
The Pink Star Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30