Q2 | 2018
Pasadena
Market Update
MILLIONAIRE’S ROW LUXURY TOWNHOME | PASADENA
Offered at $1,699,000 300southorangegrove.com
BREATHTAKING ARROYO VIEWS | PASADENA
Offered at $1,895,000 1915arroyo.com
a message from
Michael Williamson Pasadena Brokerage Manager
I take great pleasure in presenting the Greater Pasadena Market Update for the second quarter of 2018. As we move into the middle of 2018, the market in the San Gabriel Valley and Northeast LA continue with reduced sales and inventory, and prices remaining stable. According to the Flex MLS, when comparing the second quarter of 2018 to the same time last year, average days on the market for the Greater Pasadena area declined to 37 days compared to 41 days the year prior. Also, the number of homes sold in the second quarter this year compared to those sold in the second quarter last year increased by 1% with 973 homes sold in Q2 2017, and 987 sold in Q2 2018. This impacts the lower price points and properties for first time buyers. We continue to see multiple buyers bidding due to the lack of availability, so being a strong pre-approved buyer has become even more critical. There appears to also be a migration into the market from both the Westside of Los Angeles and the San Fernando Valley due to the unique properties and affordability factor, especially in the Pasadena area. Since our brokerage opened in Pasadena in 2004, 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 70 countries and territories, here in Pasadena we serve the entire community including Altadena, Arcadia, La Cañada 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
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. DRE: 824452
Featured Properties We invite you to explore our exclusive offerings at S OT H E BYS H OM E S.C OM/PASADENA
CLASSIC SPANISH HACIENDA | PASADENA
Offered at $1,600,000 1549poppypeak.com
LA CAÑADA FLINTRIDGE
Offered at $3,595,000 4235mesavista.com PASADENA
Offered at $2,850,000 1145wellington.com SAN MARINO
Offered at $2,198,000 sothebyshomes.com/0278638 PASADENA
Offered at $1,350,000 2210woodlyn.com *in order from left to right, top to bottom
sothebyshomes.com/pasadena
5
/ Featured Properties / Pasadena Q2 Market Update
Market Snapshot All Pasadena | Q2 2018
$1,600,000
1080
$1,400,000
1060
$5M and Up
1040
$1,200,000
$3M -$5M
Below $1M
1020
$1,000,000
1000 $800,000 980 $600,000
960
$400,000
$1M-$3M
940
$200,000
920
$-
900
2014 2015 2016 2017 2018
Total Volume by Price Point 26 % 58 % 7% 9%
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
$3,500,000
$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 Q2 Market Update
at a glance {Q2 | 2018}
altadena
+3
%
Change in Average Selling Price {2018 v 2017}
+17
%
Change in Units Sold {2018 v 2017}
118 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,200,000
140
$1,000,000
120 100
$800,000
80 $600,000 60 $400,000
40
$200,000
20
$-
0
2014
2015
2016
2017
2018
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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
3%
0%
-
17%
-13%
2018
$979,064
$821,500
1%
118
32
2017
$946,300
$821,200
2%
101
37
2016
$814,457
$720,000
-5%
117
39
2015
$753,054
$652,250
1%
126
45
2014
$726,693
$639,500
2%
108
41
9
/ Altadena / Pasadena Q2 Market Update
|
Average Selling Price Total Units Sold $2,000,000
145
$1,800,000
140
$1,600,000
135
$1,400,000 $1,200,000
130
$1,000,000 125
$800,000 $600,000
120
$400,000
115
$200,000 $-
110
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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
24%
13%
-
-2%
19%
2018
$1,700,014
$1,295,000
-5%
120
48
2017
$1,366,214
$1,150,000
-5%
122
40
2016
$1,492,709
$1,130,000
-6%
127
43
2015
$1,734,216
$1,275,000
-7%
137
53
2014
$1,617,047
$1,300,000
-1%
139
30
Pasadena Q2 Market Update / Arcadia / 10
at a glance {Q2 | 2018}
arcadia
+24
%
Change in Average Selling Price {2018 v 2017}
-2
%
Change in Units Sold {2018 v 2017}
120 Units Sold
1.7m
$
Average Selling Price
at a glance {Q2 | 2018}
GLENDALE
+12
%
Change in Average Selling Price {2018 v 2017}
+17
%
Change in Units Sold {2018 v 2017}
270 Units Sold
1.1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,200,000
280
$1,000,000
270 260
$800,000
250 $600,000 240 $400,000
230
$200,000
220
$-
210
2014
2015
2016
2017
Average Selling Price
2018 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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
12%
11%
-
17%
-17%
2018
$1,081,483
$997,500
1%
270
35
2017
$966,446
$900,000
0%
230
42
2016
$899,938
$830,000
1%
243
43
2015
$863,822
$790,000
-1%
256
49
2014
$780,770
$740,000
-6%
260
47
13
/ La CaĂąada Flintridge / Pasadena Q2 Market Update
|
Average Selling Price Total Units Sold $2,500,000
100 90
$2,000,000
80 70
$1,500,000
60 50
$1,000,000
40 30
$500,000
20 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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
8%
5%
-
10%
0%
2018
$2,319,001
$1,950,000
-2%
77
47
2017
$2,154,776
$1,857,500
-3%
70
47
2016
$1,786,325
$1,630,000
0%
73
43
2015
$1,823,639
$1,575,000
0%
89
34
2014
$1,462,530
$1,299,000
0%
67
47
Pasadena Q2 Market Update / Arcadia / 14
at a glance {Q2 | 2018}
la caĂąada flintridge
+8
%
Change in Average Selling Price {2018 v 2017}
+10
%
Change in Units Sold {2018 v 2017}
77 Units Sold
2.3m
$
Average Selling Price
at a glance {Q2 | 2018}
PASADENA
+6
%
Change in Average Selling Price {2018 v 2017}
-10
%
Change in Units Sold {2018 v 2017}
245 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,400,000
350
$1,200,000
300
$1,000,000
250
$800,000
200
$600,000
150
$400,000
100
$200,000
50
$-
0
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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
6%
9%
-
-10%
-16%
2018
$1,296,997
$1,030,000
1%
245
35
2017
$1,226,879
$948,750
-1%
272
42
2016
$1,112,449
$879,500
-3%
246
45
2015
$1,046,389
$802,500
-3%
286
44
2014
$1,054,164
$803,000
-3%
234
42
17
/ La CaĂąada Flintridge / Pasadena Q2 Market Update
|
Average Selling Price Total Units Sold $900,000
74 72
$850,000
70 68
$800,000
66 $750,000
64 62
$700,000
60 $650,000
58
2014
2015
2016
2017
Average Selling Price
2018 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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
9%
1%
-
-14%
-14%
2018
$869,582
$755,000
0%
63
29
2017
$797,135
$750,000
1%
73
34
2016
$746,524
$685,000
-1%
70
53
2015
$765,448
$728,000
-2%
63
32
2014
$742,218
$680,000
2%
64
41
Pasadena Q2 Market Update / Pasadena / 18
at a glance {Q2 | 2018}
SAN GABRIEL
+9
%
Change in Average Selling Price {2018 v 2017}
-14
%
Change in Units Sold {2018 v 2017}
63 Units Sold
900k
$
Average Selling Price
at a glance {Q2 | 2018}
san marino
+22
%
Change in Average Selling Price {2018 v 2017}
-23
%
Change in Units Sold {2018 v 2017}
24 Units Sold
2.9m
$
Average Selling Price
|
Average Selling Price Total Units Sold $3,500,000
50 45
$3,000,000
40
$2,500,000
35 30
$2,000,000
25 $1,500,000
20 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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
22%
0%
-
-23%
3%
2018
$2,929,116
$2,057,500
2%
24
44
2017
$2,406,628
$2,050,000
0%
31
43
2016
$3,244,044
$2,522,000
0%
46
55
2015
$2,740,444
$2,500,000
1%
36
42
2014
$2,174,730
$2,084,000
8%
36
24
21
/ San Marino / Pasadena Q2 Market Update
|
Average Selling Price Total Units Sold $1,400,000
45 40
$1,200,000
35
$1,000,000
30
$800,000
25
$600,000
20 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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
12%
5%
-
16%
-40%
2018
$1,180,611
$1,097,500
0%
36
26
2017
$1,057,145
$1,050,000
-2%
31
44
2016
$904,296
$903,000
-2%
34
33
2015
$1,015,105
$938,000
-3%
39
45
2014
$875,404
$802,000
-4%
27
38
Pasadena Q2 Market Update / Sierra Madre / 22
at a glance {Q2 | 2018}
sierra madre
+12
%
Change in Average Selling Price {2018 v 2017}
+16
%
Change in Units Sold {2018 v 2017}
36 Units Sold
1.2m
$
Average Selling Price
at a glance {Q2 | 2018}
south pasadena
+19
%
Change in Average Selling Price {2018 v 2017}
-21
%
Change in Units Sold {2018 v 2017}
34 Units Sold
1.6m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,800,000
50
$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
Q2
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
19%
2%
-
-21%
-3%
2018
$1,639,794
$1,342,500
2%
34
33
2017
$1,374,497
$1,310,000
3%
43
34
2016
$1,577,911
$1,400,000
3%
35
43
2015
$1,313,938
$1,290,000
2%
35
48
2014
$1,243,594
$1,181,750
4%
30
30
25
/ South Pasadena / Pasadena Q2 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
PASADENA
Picturesque Prospect Park Revival Last asking $2,599,000
PASADENA
Sleek Mid-Century Modern Last asking $1,625,000 GLENDALE
The Prock House Last asking $1,389,000 SIERRA MADRE
Contemporary Craftsman Last asking $1,180,000 ALTADENA
Character Spanish Last asking $1,100,000 *in order from left to right, top to bottom
sothebyshomes.com/pasadena 27
/ Significant Sales / Pasadena Q2 Market Update
UPCOMING AUCTIONS MONTEREY 24-25 AUGUST AUBURN FALL 30 AUGUST-2 SEPTEMBER HERSHEY 11-12 OCTOBER THE PORSCHE 70TH ANNIVERSARY SALE 27 OCTOBER LOS ANGELES 8 DECEMBER
1956 Maserati A6G/2000 Berlinetta Coachwork by Zagato Chassis no. 2124
REGISTER TO BID ONLINE CORPORATE +1 519 352 4575 UK +44 (0) 20 7851 7070 CALIFORNIA +1 310 559 4575 NEW YORK +1 212 894 1562