Q1 | 2018
Pasadena
Market Update
LA CAÑADA FLINTRIDGE
Gorgeous French Country Estate Last asking $5,795,000
LINDA VISTA COMPOUND | PASADENA
Offered at $3,200,000 1180yocum.com
a message from
Cristian David
Pasadena Brokerage Manager I take great pleasure in presenting the Greater Pasadena Market Update for the first quarter of 2018. The Greater Pasadena real estate market started the year with reduced sales, inventory on the rise and prices remaining stable. According to the Flex MLS, when comparing the first quarter of 2018 to the same time last year, average days on the market for the Greater Pasadena area declined to 42 days compared to 51 days the year prior while San Marino and Sierra Madre showed a decrease in average sales price by 10% and 16%, respectively. Also, the number of homes sold in the first quarter this year compared to those sold in the first quarter last year decreased by almost 10% with 646 homes sold in Q1 2017, and 583 sold in Q1 2018. Lastly, more than half of the sales sold in Q1 this year occurred in the $1 million to $3 million range, with San Marino leading the way in the upper end of that category. Since our brokerage opened in Pasadena in 2009, Sotheby’s International Realty has had a white gloved finger on the pulse of the real estate market. The Sotheby’s International Realty -Pasadena Brokerage is uniquely well-positioned to service the needs of discriminating buyers and sellers. While Sotheby’s International Realty has offices around the world in 69 countries and territories, here in Pasadena we serve the entire community including Altadena, Arcadia, La Canada Flintridge, San Marino, Sierra Madre and South Pasadena. Our mission is simple: to pair exceptional properties with exceptional clients while offering superior service. I hope that you enjoy exploring our quarterly market update and I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you in the sale or purchase of property in California or anywhere else, please call me at 626.396.6801 so that I may personally introduce you to one of our local and global advisors. sothebyshomes.com/pasadena
dre
phone
01924280
cristian.david@sothebyshomes.com
626.396.6801
All data within this document is pulled from Flex MLS and represent the sale of single family homes. DRE: 899496
MEDITERRANEAN-STYLE ESTATE WITH VIEWS | LA CAÑADA FLINTRIDGE
Offered at $3,499,000 5328angelescresthwy.com
Featured Properties We invite you to explore our exclusive offerings at S OT H E BYS H OM E S.C OM / PASADENA
LA CAÑADA FLINTRIDGE
Offered at $3,995,000 4235mesavista.com ALTADENA
Offered at $2,150,000 484eastsacramento.com PASADENA
Offered at $1,098,000 3626yorkshireroad.com PASADENA
Offered at $1,288,000 3248georgecircle.com *in order from left to right, top to bottom
sothebyshomes.com/pasadena
5
/ Featured Properties / Pasadena Q1 Market Update
Market Snapshot All Pasadena | Q1 2018
$1,250,000
700 680
$1,200,000
$5M and Up $3M -$5M
660 $1,150,000
640
Below $1M
620 $1,100,000 600 $1,050,000
$1M-$3M
580 560
$1,000,000 540 $950,000
520
2014 2015 2016 2017 2018
Total Volume by Price Point 32 % 53 % 7% 8%
Average Selling Price vs. Total Units Sold
Under $1 Million
Average Selling Price
$1 – 3 Million
Total Units Sold
$3 – 5 Million $5+ Million
All data within this document is pulled from the Pasadena MLS and encompasses Pasadena, San Marino, South Pasadena, Altadena, Arcadia, Sierra Madre, and La Canada Flintridge. 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. 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. Equal housing opportunity.
Comparison by City Altadena Arcadia La CaĂąada Flintridge Pasadena San Marino Sierra Madre South Pasadena
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$-
Altadena
Arcadia La Canada Pasadena Flintridge
San Marino
Sierra Madre
South Pasadena
Average Selling Price
Altadena
Pasadena
Arcadia
San Marino
La CaĂąada Flintridge Sierra Madre
South Pasadena
7
/ Market Snapshot / Pasadena Q1 Market Update
at a glance {Q1 | 2018}
altadena
+8
%
Change in Average Selling Price {2018 v 2017}
-1
%
Change in Units Sold {2018 v 2017}
82 Units Sold
900k
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,000,000
90
$900,000
80
$800,000
70
$700,000
60
$600,000
50
$500,000
40
$400,000
30
$300,000 $200,000
20
$100,000
10
$-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
Altadena Sited between the Arroyo Seco and Eaton Canyon, Altadena is rich in architecture and cultural heritage with its community’s unique qualities. Significant home styles from modest Craftsman bungalow to Italianate mansion and Modernist gems are present. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
8%
7%
-
-1%
-41%
2018
$937,747
$822,500
1%
82
30
2017
$870,282
$769,000
-1%
83
52
2016
$837,508
$708,000
-2%
69
51
2015
$713,504
$624,500
-2%
84
59
2014
$623,474
$532,500
-2%
82
54
9
/ Altadena / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $1,800,000
160
$1,600,000
140
$1,400,000
120
$1,200,000
100
$1,000,000
80
$800,000
60
$600,000
40
$400,000
20
$200,000 $-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
Arcadia Home to the Los Angeles County Arboretum and Botanic Garden, this “green space� city is largely populated by California Live Oak trees. It is no accident that Arcadia is referred to as a jewel among southern California communities. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
4%
-11%
-
-10%
-6%
2018
$1,441,785
$975,500
-9%
113
49
2017
$1,388,184
$1,099,000
-5%
126
52
2016
$1,253,801
$895,000
-8%
124
61
2015
$1,282,367
$994,000
-6%
126
53
2014
$1,571,983
$960,000
-4%
145
54
Pasadena Q1 Market Update / Arcadia / 10
at a glance {Q1 | 2018}
arcadia
+4
%
Change in Average Selling Price {2018 v 2017}
-10
%
Change in Units Sold {2018 v 2017}
113 Units Sold
1.4m
$
Average Selling Price
at a glance {Q1 | 2018}
la caĂąada flintridge
-5
%
Change in Average Selling Price {2018 v 2017}
-35
%
Change in Units Sold {2018 v 2017}
34 Units Sold
2.1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $2,500,000
60 50
$2,000,000
40 $1,500,000 30 $1,000,000 20 $500,000
10
$-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
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 and NASA’s Jet Propulsion Laboratory. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-5%
1%
-
-35%
-25%
2018
$2,091,169
$1,857,500
0%
34
33
2017
$2,198,563
$1,839,000
1%
52
44
2016
$1,718,587
$1,559,000
-3%
54
52
2015
$1,767,285
$1,475,000
-2%
38
54
2014
$1,654,677
$1,365,000
-4%
53
70
13
/ La Cañada Flintridge / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $1,200,000
320 310
$1,000,000
300 $800,000
290
$600,000
280 270
$400,000
260 $200,000
250
$-
240
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
Pasadena Pasadena is a world-class model of a successful 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. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
4%
11%
-
-11%
-17%
2018
$990,466
$775,000
-2%
271
42
2017
$951,856
$700,000
-1%
306
50
2016
$803,281
$669,000
-1%
312
50
2015
$880,063
$660,000
-50%
307
63
2014
$737,855
$590,000
-3%
315
61
Pasadena Q1 Market Update / Pasadena / 14
at a glance {Q1 | 2018}
pasadena
+4
%
Change in Average Selling Price {2018 v 2017}
-11
%
Change in Units Sold {2018 v 2017}
271 Units Sold
990k
$
Average Selling Price
at a glance {Q1 | 2018}
san marino
-10
%
Change in Average Selling Price {2018 v 2017}
-8
%
Change in Units Sold {2018 v 2017}
23 Units Sold
2.5m
$
Average Selling Price
|
Average Selling Price Total Units Sold $3,500,000
35
$3,000,000
30
$2,500,000
25
$2,000,000
20
$1,500,000
15
$1,000,000
10
$500,000
5
$-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
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 the City an enjoyable place to live and work. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-10%
-9%
-
-8%
14%
2018
$2,496,861
$2,400,000
-2%
23
77
2017
$2,776,736
$2,630,000
-6%
25
68
2016
$2,771,924
$1,952,500
-6%
32
75
2015
$2,952,404
$2,237,500
-1%
22
50
2014
$2,429,876
$2,200,000
6%
26
42
17
/ San Marino / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $1,400,000
35
$1,200,000
30
$1,000,000
25
$800,000
20
$600,000
15
$400,000
10
$200,000
5
$-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
Sierra Madre Called The Village of the Foothills, Sierra Madre is home to approximately 11,000 residents who enjoy the wonderful serene neighborhoods and delightful downtown shopping district. Located between Pasadena and Arcadia, this town is full of charm. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-16%
-30%
-
53%
-20%
2018
$959,905
$805,000
-3%
29
50
2017
$1,149,121
$1,145,000
-4%
19
62
2016
$1,009,872
$940,000
-2%
25
38
2015
$918,470
$905,000
-1%
26
32
2014
$917,042
$876,500
-5%
28
56
Pasadena Q1 Market Update / Sierra Madre / 18
at a glance {Q1 | 2018}
sierra madre
-16
%
Change in Average Selling Price {2018 v 2017}
53
%
Change in Units Sold {2018 v 2017}
29 Units Sold
1m
$
Average Selling Price
at a glance {Q1 | 2018}
south pasadena
+19
%
Change in Average Selling Price {2018 v 2017}
-11
%
Change in Units Sold {2018 v 2017}
31 Units Sold
1.4m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,600,000
45
$1,400,000
40 35
$1,200,000
30
$1,000,000
25
$800,000
20
$600,000
15
$400,000
10
$200,000
5
$-
0
2014
2015
2016
2017
Average Selling Price
2018 Total Units Sold
About
South Pasadena South Pasadena is known for its tree-lined streets, historic California Craftsman-style homes and unique small businesses. This small town atmosphere makes the city one of California’s most desirable locations and prides itself on its small town character. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
19%
43%
-
-11%
-40%
2018
$1,402,710
$1,385,000
5%
31
29
2017
$1,181,364
$970,000
-1%
35
47
2016
$922,865
$850,000
-3%
33
45
2015
$949,609
$865,000
1%
33
30
2014
$844,460
$738,000
2%
41
47
21
/ South Pasadena / Pasadena Q1 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
LA CAĂ‘ADA FLINTRIDGE
Architecturally Restored Contemporary Last asking $3,150,000
SAN MARINO
San Marino Tennis Estate Last asking $4,100,000 SIERRA MADRE
J. Gamble Carson House Last asking $2,500,000 ALTADENA
Gorgeous Mediterranean Last asking $2,288,00 PASADENA
Panoramic Views from Kinneloa Mesa Last asking $1,898,000 *in order from left to right, top to bottom
sothebyshomes.com/pasadena 23
/ Significant Sales / Pasadena Q1 Market Update
April & May 2018 New York Auction Calendar Magnificent Jewels Auction 18 April The Jeweler’s Eye: The Personal Collection of Fred Leighton Auction 18 April Fine Jewels Auction 19 April Luxe: Art of Design European Decorative Arts & 20th Century Design Auctions 20 & 22 April Life + Curated: The Victor A. Diaz Collection Auction 20 April Finest & Rarest Wines Auction 21 April Print & Multiples Auction 26–27 April Impressionist & Modern Art Evening & Day Sales Auctions 14 & 15 May Raising The Bar: Masterworks from the Collection of Morton and Barbara Mandel Auction 16 May Contemporary Art Evening & Day Auctions Auctions 16 & 17 May Property from a Distinguished New York Private Collection JACKSON POLLOCK Number 32, 1949 To be offered in New York Contemporary Evening Auction 16 May
We invite you to explore our real estate listings at sothebyshomes.com and view the worldwide auction schedule at sothebys.com/auctions.
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