Q3 | 2018
Pasadena
Market Update
HERBERT COPPELL ESTATE DESIGNED BY BERTRAM GOODHUE - 1916 | PASADENA
Offered at $5,200,000 695columbiapasadena.com
HERBERT COPPELL ESTATE DESIGNED BY BERTRAM GOODHUE - 1916 | PASADENA, Interior
a message from
Michael Williamson Pasadena Brokerage Manager
I take great pleasure in presenting the Greater Pasadena Market Update for the third quarter of 2018. After a strong 2017, the Greater Pasadena real estate market remains stable in the first, second and third quarters. According to the FLEX MLS, when comparing the third quarter of 2018 to the same time last year, average days on market for Greater Pasadena declined to 40 days compared to 41 days the year prior. Neighborhoods such as La Canada Flintridge, San Marino, and Glendale showed a median sales price increase of 7%, 5%, and 6%, respectively. Overall, the average sales price in Greater Pasadena rose from $1.28M to $1.33M a 4% increase from the third quarter of 2017. 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 70 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
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.
QUINTESSENTIAL PASADENA ESTATE | PASADENA
Offered at $3,990,000 65sanrafael.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 $3,999,999 1870sanpasqual.com SAN MARINO
Offered at $2,900,000 1300virginiaroad.com PASADENA
Offered at $2,650,000 686laloma.com PASADENA
Offered at $998,000 1580nroosevelt.com *in order from left to right, top to bottom
sothebyshomes.com/pasadena
5
/ Featured Properties / Pasadena Q3 Market Update
Market Snapshot All Pasadena | Q3 2018
$1,350,000
1020
$1,300,000
1000
$5M and Up $3M -$5M
980
$1,250,000
Below $1M
960 $1,200,000 940 $1,150,000 920 $1,100,000
$1M-$3M
900
$1,050,000
880
$1,000,000
860
2014 2015 2016 2017 2018
Total Volume by Price Point 28 % 55 % 6% 11 %
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 Q3 Market Update
at a glance {Q3 | 2018}
altadena
+3
%
Change in Average Selling Price {2018 v 2017}
+5
%
Change in Units Sold {2018 v 2017}
103 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
Average Median Discount Total Selling Price Selling Price Ratio Units
Average Days on Market
3%
0%
-
5%
20%
2018
$962,563
$845,000
0%
103
40
2017
$933,494
$842,500
1%
98
34
2016
$837,919
$739,500
-1%
120
48
2015
$783,317
$691,500
1%
112
53
2014
$668,651
$595,000
-1%
103
47
Q3 {2018 v 2017}
Change
9
/ Altadena / Pasadena Q3 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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
11%
-3%
-
-10%
0%
2018
$1,754,138
$1,280,000
-12%
110
49
2017
$1,575,482
$1,317,500
-6%
122
49
2016
$1,619,358
$1,287,400
-7%
127
45
2015
$1,677,052
$1,197,500
-6%
122
47
2014
$1,685,379
$1,360,000
-3%
113
36
Pasadena Q3 Market Update / Arcadia / 10
at a glance {Q3 | 2018}
arcadia
+11
%
Change in Average Selling Price {2018 v 2017}
-10
%
Change in Units Sold {2018 v 2017}
110 Units Sold
1.8m
$
Average Selling Price
at a glance {Q3 | 2018}
GLENDALE
+3
%
Change in Average Selling Price {2018 v 2017}
+24
%
Change in Units Sold {2018 v 2017}
241 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $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
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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
3%
6%
-
24%
-21%
2018
$1,033,455
$956,000
-36%
241
32
2017
$999,738
$905,000
-84%
195
41
2016
$942,629
$875,000
-2%
177
46
2015
$878,950
$822,500
-1%
208
44
2014
$817,609
$738,500
-2%
172
52
13
/ La CaĂąada Flintridge / Pasadena Q3 Market Update
|
Average Selling Price Total Units Sold $2,500,000
90 80
$2,000,000
70 60
$1,500,000
50 40
$1,000,000
30 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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
6%
7%
-
-13%
4%
2018
$2,174,966
$1,772,500
-6%
58
53
2017
$2,054,209
$1,650,000
-2%
67
51
2016
$1,830,911
$1,594,500
-7%
69
43
2015
$1,785,771
$1,444,000
-2%
76
46
2014
$1,538,861
$1,285,000
-1%
79
46
Pasadena Q3 Market Update / Arcadia / 14
at a glance {Q3 | 2018}
la caĂąada flintridge
+6
%
Change in Average Selling Price {2018 v 2017}
-13
%
Change in Units Sold {2018 v 2017}
58 Units Sold
2.2m
$
Average Selling Price
at a glance {Q3 | 2018}
PASADENA
+8
%
Change in Average Selling Price {2018 v 2017}
-12
%
Change in Units Sold {2018 v 2017}
231 Units Sold
1.3m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,400,000
300
$1,200,000
250
$1,000,000
200
$800,000 150 $600,000 100
$400,000
50
$200,000 $-
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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
8%
8%
-
-12%
-1%
2018
$1,314,792
$1,030,000
-2%
231
41
2017
$1,220,939
$950,000
-1%
263
42
2016
$1,056,381
$835,000
-2%
271
43
2015
$1,043,214
$784,000
0%
278
46
2014
$1,037,896
$773,500
-2%
280
47
17
/ La CaĂąada Flintridge / Pasadena Q3 Market Update
|
Average Selling Price Total Units Sold $900,000
100 90
$850,000
80 70
$800,000
60 50
$750,000
40 30
$700,000
20 10
$650,000
0
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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
2%
7%
-
-12%
-31%
2018
$865,107
$849,000
2%
68
23
2017
$848,818
$795,000
-15%
77
33
2016
$733,180
$684,500
-1%
67
33
2015
$771,677
$710,000
-2%
90
34
2014
$740,699
$689,000
-1%
78
31
Pasadena Q3 Market Update / Pasadena / 18
at a glance {Q3 | 2018}
SAN GABRIEL
+2
%
Change in Average Selling Price {2018 v 2017}
-12
%
Change in Units Sold {2018 v 2017}
68 Units Sold
900k
$
Average Selling Price
at a glance {Q3 | 2018}
san marino
+15
%
Change in Average Selling Price {2018 v 2017}
0
%
Change in Units Sold {2018 v 2017}
38 Units Sold
2.8m
$
Average Selling Price
|
Average Selling Price Total Units Sold $3,500,000
40
$3,000,000
35 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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
15%
5%
-
0%
57%
2018
$2,795,800
$2,247,000
-7%
38
62
2017
$2,439,661
$2,140,500
-2%
38
39
2016
$2,459,382
$2,075,000
-1%
38
41
2015
$2,436,360
$2,149,000
-10%
30
53
2014
$3,020,936
$2,358,000
-1%
37
31
21
/ San Marino / Pasadena Q3 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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-11%
-3%
-
19%
8%
2018
$1,072,922
$1,065,000
-3%
32
39
2017
$1,201,968
$1,100,000
-4%
27
36
2016
$1,177,144
$1,006,000
-3%
29
38
2015
$1,068,886
$962,500
-3%
32
33
2014
$903,471
$876,250
-3%
40
36
Pasadena Q3 Market Update / Sierra Madre / 22
at a glance {Q3 | 2018}
sierra madre
-11
%
Change in Average Selling Price {2018 v 2017}
+19
%
Change in Units Sold {2018 v 2017}
32 Units Sold
1.1m
$
Average Selling Price
at a glance {Q3 | 2018}
south pasadena
1
%
Change in Average Selling Price {2018 v 2017}
-31
%
Change in Units Sold {2018 v 2017}
25 Units Sold
1.5m
$
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
Q3
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
1%
-3%
-
-31%
12%
2018
$1,531,958
$1,438,340
2%
25
34
2017
$1,510,671
$1,486,250
3%
36
30
2016
$1,244,095
$1,200,000
3%
43
28
2015
$1,523,132
$1,285,000
4%
46
32
2014
$1,215,994
$1,135,000
5%
33
24
25
/ South Pasadena / Pasadena Q3 Market Update
Extraordinary Results We celebrate the notable success of our associates and clients
LA CAÑADA FLINTRIDGE
Character Spanish Last asking $2,150,000
LA CRESCENTA
Tremendous Napa Valley Style Farmhouse Last asking $2,595,000 PASADENA
Breathtaking Arroyo Views Last asking $1,895,000 PASADENA
Classic Spanish Hacienda Last asking $1,600,000 PASADENA
Coveted Caltech Neighborhood Last asking $1,129,000 *in order from left to right, top to bottom
sothebyshomes.com/pasadena 27
/ Significant Sales / Pasadena Q3 Market Update
Exceptional Diamonds. Curated by Sotheby’s.
LONDON HONG KONG NEW YORK. SOTHEBYSDIAMONDS.COM