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