Pasadena Market Update | Q2 2015

Resort-Style Living, Sierra Madre, CA | web: 0277612 | Mark Ogden

Pasadena Market Update Second Quarter 2015 PASADENA BROKERAGE 800 East Colorado Boulevard, Suite 150 Pasadena, CA 91101 t. 626.229.0909

sothebyshomes.com/pasadena

All data within this document is pulled from the Pasadena MLS.

A MESSAGE FROM OUR MANAGER: Jeff Maynard I am pleased to report that in the second quarter of 2015, four of the five areas in this market report enjoyed a steady increase in their average sales prices according to the Pasadena Foothills Association of Realtors ITEC Multiple Listing Service. The number of units sold in all five areas was up as well, which is a positive sign. A trend that appears to be slowly taking hold is that buyers are keen to establish a proper value and are willing to wait if they feel a property is overpriced. Those homes will sit with no or fewer offers. This can be a costly and painful process so make sure you have an agent who knows your market. Sotheby’s International Realty – Pasadena brokerage’s listings often get multiple offers as extensive research is conducted to formulate the suggested sales price for our sellers. We are local experts with International connections that help our clients receive exposure like no other company can deliver. Our office enjoyed incredible closed volume growth in the second quarter as compared with the same time last year and we would like to thank our many satisfied customers for placing their trust in us.

FEATURED LISTINGS

LA-CANADA FLINTRIDGE | $3,980,000 | web: 0277588

PASADENA | $2,998,000 | web: 0277562

PASADENA | $2,250,000 | web: 0277599

PASADENA | $1,612,500 | web: 0277583

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission.

Operated by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers.

We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

FIVE YEARS OF AVERAGE SELLING PRICES | Q2 $3,0 00,000

$2,5 00,000

$2,0 00,000

$1,5 00,000

$1,0 00,000

$500,000

$2011

2012 Altadena

2013

La Canada

Pasadena

2014 San Marino

2015

South Pasadena

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 450

$1,2 00,000

400

$1,0 00,000

350

$800,000

PASADENA

$600,000

Pasadena is a world-class model of a successful

$400,000

300 250 200 150

urban community, and its distinctive quality of life is exemplified by its unparalleled beauty, culture and diversity. It is home to many scientific and

100

$200,000

50

$-

cultural institutions.

0 2011

2012

2013

Average Selling Price

SINGLE FAMILY HOMES | Q2 UNITS SOLD

2011

2012

2013

2014

2015

Units Sold

2014

2015

231

388

298

230

280

AVERAGE SELLING PRICE

$828,564

$754,111

$884,121

$1,054,242

$1,049,033

AVERAGE LISTING PRICE

$1,143,795

$792,079

$875,475

$1,043,198

$1,055,887

72%

95%

101%

101%

99%

MEDIAN

$626,000

$562,500

$695,000

$803,000

$806,500

VOLUME

$191,398,255

$292,595,162

$263,468,051

$242,475,647

$293,729,275

AVE DOM

84

82

48

44

47

DISCOUNT %

sothebyshomes.com/pasadena

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 $800,000

140

$700,000

120

$600,000

100

$500,000

ALTADENA

80

$400,000

Sited between the Arroyo Seco and Eaton Canyon,

$300,000

Altadena is rich in architecture and cultural

$200,000

heritage with its community’s unique qualities.

Significant home styles from modest Craftsman bungalow to Italianate mansion and Modernist

60 40 20

$100,000 $-

0 2011

2012

2013

2014

2015

gems are present.

Average Selling Price

SINGLE FAMILY HOMES | Q2

2011

UNITS SOLD

2012

2013

Units Sold

2014

2015

96

110

117

106

124

AVERAGE SELLING PRICE

$582,235

$554,350

$653,419

$726,640

$753,885

AVERAGE LISTING PRICE

$624,997

$573,864

$650,587

$713,402

$745,657

93%

97%

100%

102%

101%

MEDIAN

DISCOUNT %

$474,600

$429,250

$590,000

$639,500

$652,250

VOLUME

$55,894,600

$60,978,481

$76,450,004

$77,023,812

$93,481,781

AVE DOM

80

72

51

44

50

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 $3,0 00,000

50 45

$2,5 00,000

40 35

$2,0 00,000

30

SAN MARINO

$1,5 00,000

San Marino has designed its community to be

$1,0 00,000

25 20

uniquely residential, with expansive properties,

15 10

$500,000

surrounded by beautiful gardens with wide streets, and well maintained parkways. This best exemplifies the charm and character that make

5 $-

0 2011

2012

2013

2014

2015

the City an enjoyable place to live and work.

Average Selling Price

SINGLE FAMILY HOMES | Q2 UNITS SOLD

2011

2012

2013

Units Sold

2014

2015

35

36

44

35

36

AVERAGE SELLING PRICE

$1,768,314

$1,730,151

$2,355,744

$2,168,865

$2,740,444

AVERAGE LISTING PRICE

$1,929,566

$1,737,056

$2,260,450

$2,013,137

$2,718,719

92%

100%

104%

108%

101%

MEDIAN

$1,328,000

$1,552,500

$1,925,000

$2,050,000

$2,500,000

VOLUME

$61,891,000

$62,285,450

$103,652,750

$75,910,270

$98,656,000

AVE DOM

79

52

32

25

46

DISCOUNT %

ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2

LA CAÑADA FLINTRIDGE La Cañada Flintridge is a small and affluent city in Los Angeles County nestled between the San Gabriel Mountains and Angeles National Forest on the north, and the San Rafael Hills on the south. The city is home to Descanso Gardens

$2,0 00,000

100

$1,8 00,000

90

$1,6 00,000

80

$1,4 00,000

70

$1,2 00,000

60

$1,0 00,000

50

$800,000

40

$600,000

30

$400,000

20

$200,000

10

$-

0 2011

2012

2013

2014

2015

and NASA’s Jet Propulsion Laboratory.

Average Selling Price

SINGLE FAMILY HOMES | Q2

2011

UNITS SOLD

2012

2013

Units Sold

2014

2015

66

80

72

67

87

AVERAGE SELLING PRICE

$1,438,812

$1,288,431

$1,482,980

$1,462,530

$1,855,751

AVERAGE LISTING PRICE

$1,543,979

$1,355,009

$1,505,624

$1,455,487

$1,832,106

93%

95%

98%

100%

101%

MEDIAN

DISCOUNT %

$1,179,500

$1,180,000

$1,302,500

$1,299,000

$1,589,000

VOLUME

$94,961,600

$103,074,500

$106,774,540

$97,989,516

$161,450,373

AVE DOM

70

62

40

44

35

AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2 $1,4 00,000

45 40

$1,2 00,000

35 $1,0 00,000

SOUTH PASADENA South Pasadena is known for its tree-lined

$800,000

25

$600,000

20

streets, historic California Craftsman-style

$400,000

homes and unique small businesses. This

$200,000

small town atmosphere makes the city one of California’s most desirable locations and

30

15 10 5

$-

0 2011

prides itself on its small town character.

SINGLE FAMILY HOMES | Q2 UNITS SOLD

2012

2013

Average Selling Price

2011

2012

2013

2014

2015

Units Sold

2014

2015

42

40

41

30

34

AVERAGE SELLING PRICE

$952,216

$856,064

$1,156,241

$1,243,594

$1,314,348

AVERAGE LISTING PRICE

$980,238

$912,422

$1,134,727

$1,190,800

$1,297,735

97%

94%

102%

104%

101%

MEDIAN

$890,500

$667,500

$975,000

$1,181,750

$1,283,788

VOLUME

$39,993,087

$34,242,550

$47,405,890

$37,307,825

$44,687,825

AVE DOM

59

83

45

37

51

DISCOUNT %

sothebyshomes.com/pasadena

ON THE MARKET

left to right from top to bottom:

METROPOLITAN MARKETS NEW YORK, NY | Web: 00110206 | $3,250,000 HOUSTON, TX | Web: 1232987 | $2,999,000 LOS ANGELES, CA | Web: 0286222 | $3,298,000 RESORT MARKETS MALIBU, CA | Web: 0172733 | $3,200,000 EAST HAMPTON, NY | Web: 0046177 | $2,995,000 SANTA BARBARA, CA | Web: 0113898 | $3,195,000 FOREIGN MARKETS GERMANY | Web: S76NQ3 | $3,590,261 ITALY | Web: MEQC8Z | $3,926,848 ISRAEL | Web: 3DWFN3 | $3,904,420 sothebysrealty.com