La Canada-Flintridge, CA | web: 0277059
Pasadena Market Update First Quarter 2014 pasadena Brokerage 459 East Colorado Boulevard 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 first quarter of 2014, all five areas in this market update – Pasadena, La Canada-Flintridge, Altadena, San Marino and South Pasadena – 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 Pasadena and Altadena was down just a bit, while San Marino, La Canada Flintridge and South Pasadena were up. If we had enjoyed more inventory of homes to sell, the unit numbers for the MLS could have been much better as demand is still very high, especially from foreign buyers. If you are thinking of selling your home, now is an incredible market to take advantage of. Due to low inventory and decreased days on the market, many of our sellers during Q1 2014 enjoyed multiple offers from buyers, which escalated the sales price well above the original asking price. January, February and March numbers were up significantly from 2013 and as always, we appreciate providing you with the utmost in real estate services.
featured listings
Pasadena | Web ID: 0277193 | $1,689,000 Pasadena Brokerage | Kaki Allan | 626.396.3939
South Pasadena | Web ID: 0277124 | $1,318,000 Pasadena Brokerage | Diane Lasell | 626.396.3932
Pasadena | Web ID: 0277171 | $1,299,000 Pasadena Brokerage | Fleming Helmstadter | 626.396.3933
Pasadena | Web ID: 0277167 | $1,245,000 Pasadena Brokerage | Deno Kidde | Wendy Crowley| 626.396.6816
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 Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.
five years of Average selling Prices | q1 $3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$2010
2011 Altadena
2012
La Canada
Pasadena
2013 San Marino
2014
South Pasadena
AVerage Sale Price | Total SFH Sold | q1 300
$1,000,000 $900,000
250
$800,000 $700,000
200
$600,000
150
$500,000
Pasadena
$400,000
100
$300,000
Pasadena is a world-class model of a successful urban community, and its distinctive quality of life is exemplified by its unparalleled beauty, culture
$200,000
50
$100,000
0
$-
and diversity. It is home to many scientific and
2010
cultural institutions.
single family homes | Q1 units sold
2011
2012
Average Selling Price
2010
2011
2012
2013
2014
Units Sold
2013
2014
157
199
257
194
177
Average selling Price
$669,928
$702,130
$627,711
$771,886
$878,291
average listing price
$704,902
$754,555
$668,244
$784,630
$895,465
95%
93%
94%
98%
98%
$560,000
$565,000
$455,000
$612,500
$680,000
83
87
91
64
64
discount median average days on market
sothebyshomes.com/pasadena
AVerage Sale Price | Total SFH Sold | q1 $700,000
140
$600,000
120
$500,000
100
$400,000
80
Sited between the Arroyo Seco and Eaton Canyon,
$300,000
60
Altadena is rich in architecture and cultural
$200,000
40
heritage with its community’s unique qualities.
$100,000
20
altadena
Significant home styles from modest Craftsman
0
$-
bungalow to Italianate mansion and Modernist
2010
2011
gems are present.
2012
Average Selling Price
single family homes | Q1
2010
units sold
2011
2012
2013
2014
Units Sold
2013
2014
52
68
77
116
79
Average selling Price
$532,633
$516,299
$476,092
$554,169
$641,100
average listing price
$546,705
$549,622
$507,383
$557,226
$652,471
discount median
97%
94%
94%
99%
98%
$462,500
$429,950
$428,000
$485,000
$539,000
82
75
73
59
53
average days on market
AVerage Sale Price | Total SFH Sold | q1
san marino San Marino has designed its community to be uniquely residential, with expansive properties, surrounded by beautiful gardens with wide streets, and well maintained parkways. This best exemplifies the charm and character that make
$3,000,000
30
$2,500,000
25
$2,000,000
20
$1,500,000
15
$1,000,000
10
$500,000
5 0
$2010
2011
the City an enjoyable place to live and work.
single family homes | Q1 units sold
2012
Average Selling Price
2010
2011
2012
2013
2014
Units Sold
2013
2014
19
20
22
20
26
Average selling Price
$1,976,575
$1,673,055
$1,926,136
$1,934,700
$2,429,876
average listing price
$2,131,211
$1,781,100
$1,982,045
$1,921,894
$2,294,265
93%
94%
97%
101%
106%
$1,420,000
$1,575,000
$1,713,000
$1,464,000
$2,200,000
77
74
93
55
47
discount median average days on market
Altadena | La Canada | Pasadena | San Marino | South Pasadena
AVerage Sale Price | Total SFH Sold | q1 $1,800,000
60
$1,600,000
50
$1,400,000 $1,200,000
la cañada flintridge
40
$1,000,000
La Cañada Flintridge is a small and affluent city
$800,000
in Los Angeles County nestled between the San
$600,000
Gabriel Mountains and Angeles National Forest
$400,000
on the north, and the San Rafael Hills on the
$200,000
south. The city is home to Descanso Gardens
30 20 10
$-
0 2010
and NASA’s Jet Propulsion Laboratory.
2011
2012
Average Selling Price
single family homes | Q1
2010
units sold
2011
2012
2013
2014
Units Sold
2013
2014
33
40
44
47
52
Average selling Price
$1,243,486
$1,205,900
$1,155,007
$1,416,373
$1,679,190
average listing price
$1,424,216
$1,276,341
$1,251,044
$1,472,499
$1,741,417
discount median
87%
94%
92%
96%
96%
$1,049,000
$1,052,500
$911,000
$1,200,000
$1,415,000
108
86
87
91
72
average days on market
AVerage Sale Price | Total SFH Sold | q1 $1,200,000
35
$1,000,000
30 25
$800,000
south pasadena
20 $600,000 15
South Pasadena is known for its tree-lined streets, historic California Craftsman-style homes and unique small businesses. This
$400,000
10
$200,000
small town atmosphere makes the city one of California’s most desirable locations and
5 0
$2010
prides itself on its small town character.
single family homes | Q1 units sold
2011
2012
Average Selling Price
2010
2011
2012
2013
2014
Units Sold
2013
2014
24
22
31
21
30
Average selling Price
$858,898
$995,858
$822,409
$899,714
$978,685
average listing price
$883,928
$1,028,027
$876,094
$920,981
$958,647
97%
97%
94%
98%
102%
$802,000
$875,000
$715,000
$879,000
$912,500
59
50
83
56
49
discount median average days on market
sothebyshomes.com/pasadena
On tHe MarKet
left to right from top to bottom:
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