Q1 | 2019
Pasadena
Market Update
LA CANADA FLINTRIDGE SMART HOME
Offered at $2,595,000 4735lacanadablvd.com
LA CANADA FLINTRIDGE SMART HOME, Interior View
a message from
Michael Williamson Pasadena Brokerage Manager
It is my pleasure to present the Greater Pasadena Market Update for the first quarter of 2019. 2019 started with fewer sales, increasing inventory, and prices falling by 2% compared to Q1 2018. According to the Flex MLS, average days on the market for homes in the Greater Pasadena area increased 15.2%, from 52 days compared to 45 days the year prior. The number of homes sold in Q1 2019 decreased 9%, from 499 homes sold compared to 550 homes sold in Q1 2018. More than half of the homes sold in the first quarter of 2019 were priced between $1M and $3M, with San Marino leading the way with an average sales price of $2.6M. Altadena and Pasadena showed an increase in average sales price by 4% and 5%, respectively. 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 72 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 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
824452
michael.williamson@sothebyshomes.com
626.396.6801
All data within this document is pulled from Flex MLS and represents the sale of single family homes.
LANGHAM HOTEL CLASSIC TRADITIONAL | PASADENA
Offered at $5,000,000 1409hillcrest.com
Featured Properties We invite you to explore our exclusive offerings at S OT H E BYS H OM E S.C OM/PASADENA
PASADENA
Offered at $1,998,000 929mesaverde.com SAN GABRIEL
Offered at $1,790,000 458ncalifornia.com LA CANADA FLINTRIDGE
Offered at $1,680,000 meadowviewlacanada.com PASADENA
Offered at $1,398,000 605oakknoll.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 2019
$5M and $3M - Up $5M
$1,600,000
700
$1,400,000
600
$1,200,000
Below $1M
500
$1,000,000 400 $800,000 300 $600,000 200
$400,000
$1M-$3M
100
$200,000 $-
0
2015 2016 2017 2018 2019
Total Volume by Price Point 26 % 59 % 6% 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, Glendale, San Gabriel 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 Glendale La CaĂąada Flintridge Pasadena San Gabriel 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 Glendale La Canada Pasadena San Flintridge Gabriel
San Marino
Sierra Madre
South Pasadena
Average Selling Price
Altadena
Pasadena
Arcadia
San Gabriel
Glendale
San Marino
La CaĂąada Flintridge
Sierra Madre
7
South Pasadena
/ Market Snapshot / Pasadena Q1 Market Update
at a glance {Q1 | 2019}
altadena
+4
%
Change in Average Selling Price {2019 v 2018}
-16
%
Change in Units Sold {2019 v 2018}
68 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,200,000
90 80
$1,000,000
70
$800,000
60 50
$600,000
40
$400,000
30 20
$200,000
10
$-
0
2015
2016
2017
2018
2019
Average Selling Price
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
Average Median Discount Total Selling Price Selling Price Ratio Units
Average Days on Market
4%
2%
-
-16%
20%
2019
$977,775
$850,000
2.4%
68
36
2018
$944,015
$830,000
0.7%
81
30
2017
$866,758
$769,000
-1.0%
81
52
2016
$838,113
$710,000
-1.8%
71
51
2015
$720,659
$629,500
-2.4%
84
59
Q1 {2019 v 2018}
Change
9
/ Altadena / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $1,850,000
100
$1,800,000
90
$1,750,000
80
$1,700,000
70
$1,650,000
60
$1,600,000
50
$1,550,000
40
$1,500,000
30
$1,450,000
20
$1,400,000
10
$1,350,000
0
2015
2016
2017
2018
Average Selling Price
2019 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
{2019 v 2018}
Change
-12%
-10%
-
-12%
18%
2019
$1,572,655
$1,345,000
-25.5%
68
69
2018
$1,781,324
$1,490,000
-85.7%
77
59
2017
$1,676,883
$1,364,000
-6.0%
88
52
2016
$1,522,345
$1,205,000
-8.4%
86
59
2015
$1,606,261
$1,300,000
-6.7%
82
57
Pasadena Q1 Market Update / Arcadia / 10
at a glance {Q1 | 2019}
arcadia
-12
%
Change in Average Selling Price {2019 v 2018}
-12
%
Change in Units Sold {2019 v 2018}
68 Units Sold
1.6m
$
Average Selling Price
at a glance {Q1 | 2019}
GLENDALE
-5
%
Change in Average Selling Price {2019 v 2018}
-6
%
Change in Units Sold {2019 v 2018}
79 Units Sold
1.1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,400,000
160
$1,200,000
140 120
$1,000,000
100
$800,000
80 $600,000
60
$400,000
40
$200,000
20
$-
0
2015
2016
2017
2018
2019
Average Selling Price
Total Units Sold
About
Glendale Glendale, filled with tree-lined streets, is located at the junction of the San Fernando and the San Gabriel Valleys. Popular with celebrities and the entertainment industry, Glendale is located minutes away from downtown Los Angeles and Pasadena. sothebyshomes.com/pasadena
Average Median Discount Total Selling Price Selling Price Ratio Units
Average Days on Market
-5%
2%
-
-6%
-3%
2019
$1,112,272
$1,075,000
-2.3%
79
49
2018
$1,164,817
$1,050,000
-1.5%
84
51
2017
$995,607
$890,000
-2.1%
135
53
2016
$927,427
$820,000
-3.6%
121
52
2015
$786,576
$740,000
-93.3%
117
54
Q1 {2019 v 2018}
Change
13
/ Glendale / Pasadena Q1 Market Update
|
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
2015
2016
2017
2018
Average Selling Price
2019 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
Average Median Discount Total Selling Price Selling Price Ratio Units
Average Days on Market
-15%
-23%
-
0%
82%
2019
$1,836,095
$1,525,000
-16.7%
32
53
2018
$2,166,398
$1,971,250
0.0%
32
29
2017
$2,198,563
$1,839,000
0.8%
52
44
2016
$1,748,032
$1,580,000
-3.2%
52
53
2015
$1,865,767
$1,550,000
-2.2%
35
54
Q1 {2019 v 2018}
Change
Pasadena Q1 Market Update / La Canada Flintridge / 14
at a glance {Q1 | 2019}
la caĂąada flintridge
-15
%
Change in Average Selling Price {2019 v 2018}
0
%
Change in Units Sold {2019 v 2018}
32 Units Sold
1.8m
$
Average Selling Price
at a glance {Q1 | 2019}
PASADENA
+5
%
Change in Average Selling Price {2019 v 2018}
-3
%
Change in Units Sold {2019 v 2018}
150 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,400,000
250
$1,200,000
200
$1,000,000 150
$800,000 $600,000
100
$400,000 50
$200,000 $-
0
2015
2016
2017
2018
2019
Average Selling Price
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
{2019 v 2018}
Change
5%
-3%
-
-3%
8%
2019
$1,294,931
$970,000
-8.8%
150
48
2018
$1,232,919
$997,500
-3.2%
154
45
2017
$1,166,035
$837,750
-2.1%
178
55
2016
$957,944
$790,000
-1.2%
179
51
2015
$1,026,800
$760,000
-42.2%
194
62
17
/ Pasadena / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $860,000
60
$840,000
50
$820,000 40
$800,000 $780,000
30
$760,000
20
$740,000 10
$720,000 $700,000
0
2015
2016
2017
2018
Average Selling Price
2019 Total Units Sold
About
San Gabriel The city of San Gabriel, named after the Mission San Gabriel Arcรกngel in 1852, boasts a powerful and far-reaching history in California. It is known today as a center for culture and art. sothebyshomes.com/pasadena
Q1
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2019 v 2018}
Change
-9%
-10%
-
-35%
56%
2019
$766,649
$720,000
-3.6%
35
58
2018
$846,488
$803,500
-0.4%
54
37
2017
$776,129
$711,000
-2.1%
54
56
2016
$834,832
$770,000
-95.7%
43
57
2015
$757,379
$679,100
-2.4%
48
36
Pasadena Q1 Market Update / San Gabriel / 18
at a glance {Q1 | 2019}
SAN GABRIEL
-9
%
Change in Average Selling Price {2019 v 2018}
-35
%
Change in Units Sold {2019 v 2018}
35 Units Sold
770k
$
Average Selling Price
at a glance {Q1 | 2019}
san marino
+4
%
Change in Average Selling Price {2019 v 2018}
0
%
Change in Units Sold {2019 v 2018}
23 Units Sold
2.6m
$
Average Selling Price
|
Average Selling Price Total Units Sold $3,000,000
35
$2,900,000
30
$2,800,000
25
$2,700,000
20
$2,600,000 15
$2,500,000
10
$2,400,000 $2,300,000
5
$2,200,000
0
2015
2016
2017
2018
Average Selling Price
2019 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
{2019 v 2018}
Change
4%
-2%
-
0%
15%
2019
$2,606,874
$2,350,000
-1.1%
23
89
2018
$2,496,861
$2,400,000
-1.6%
23
77
2017
$2,776,736
$2,630,000
-5.8%
25
68
2016
$2,771,924
$1,952,500
-5.7%
32
75
2015
$2,952,404
$2,237,500
-1.2%
22
50
21
/ San Marino / Pasadena Q1 Market Update
|
Average Selling Price Total Units Sold $1,200,000
30
$1,150,000
25
$1,100,000
20
$1,050,000 15 $1,000,000 10
$950,000 $900,000
5
$850,000
0
2015
2016
2017
2018
Average Selling Price
2019 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
{2019 v 2018}
Change
-6%
1%
-
-30%
-38%
2019
$967,961
$950,000
-0.9%
16
36
2018
$1,034,402
$945,000
-89.2%
23
58
2017
$1,149,121
$1,145,000
-3.9%
19
62
2016
$1,130,722
$1,114,000
-1.2%
18
35
2015
$972,196
$923,500
-2.2%
24
33
Pasadena Q1 Market Update / Sierra Madre / 22
at a glance {Q1 | 2019}
sierra madre
-6
%
Change in Average Selling Price {2019 v 2018}
-30
%
Change in Units Sold {2019 v 2018}
16 Units Sold
970k
$
Average Selling Price
at a glance {Q1 | 2019}
south pasadena
-22
%
Change in Average Selling Price {2019 v 2018}
27
%
Change in Units Sold {2019 v 2018}
28 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,800,000
30
$1,600,000
25
$1,400,000 $1,200,000
20
$1,000,000
15
$800,000 $600,000
10
$400,000
5
$200,000 $-
0
2015
2016
2017
2018
Average Selling Price
2019 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
{2019 v 2018}
Change
-22%
-22%
-
27%
48%
2019
$1,337,321
$1,332,500
-0.1%
28
49
2018
$1,714,273
$1,700,000
5.2%
22
33
2017
$1,553,482
$1,430,000
-1.7%
19
42
2016
$1,094,120
$1,005,000
-1.6%
22
52
2015
$1,132,095
$948,000
1.3%
22
28
25
/ South Pasadena / Pasadena Q1 Market Update
PASADENA
Georgian Colonial Residence Last asking $2,295,000
Extraordinary Results We celebrate the notable success of our associates and clients
LOS FELIZ
Prime Los Feliz Mediterranean Last asking $4,000,000 SAN MARINO
Stunning Estate with Magical Grounds Last asking $3,950,000 PASADENA
South West Pasadena Traditional Home Last asking $2,275,000 ALTADENA
Classic 1950’s Post and Beam Last asking $1,100,000 *in order from left to right, top to bottom
sothebyshomes.com/pasadena 27
/ Significant Sales / Pasadena Q1 Market Update
UNRIVALED
GLOBAL PERFORMANCE
$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018
990 22,500 72 OFFICES
AGENTS
COUNTRIES
1 3 OUT OF
OFFICES IS OUTSIDE OF THE UNITED STATES
31 MILLION VISITS TO SOTHEBYSREALTY.COM 13% INCREASE YEAR OVER YEAR
180,000 YOUTUBE SUBSCRIBERS SILVER CREATOR AWARD WINNER
Featured Property:
8191WDRYCREEK.COM | HEALDSBURG, CA 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.