Q4 | 2018
Pasadena
Market Update
1950’S POST & BEAM | ALTADENA
Offered at $1,100,000 sothebyshomes.com/pasadena
1950’S POST & BEAM | ALTADENA, Exterior View
a message from
Michael Williamson Pasadena Brokerage Manager
I take great pleasure in presenting the Greater Pasadena Market Update for the final quarter of 2018. The Greater Pasadena real estate market ended the year with reduced sales, inventory on the rise and prices remaining stable. According to the Flex MLS, the number of homes sold in the last quarter of 2018, compared to those sold in the last quarter of 2017, decreased by roughly 5% with 779 homes sold in Q4 2017 and 737 sold in Q4 2018. More than half of the sales in Q4 last 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 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. 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.
CHARMING ENGLISH COTTAGE | GLENDALE
Offered at $1,125,000 1431hillsidedrive.com
Featured Properties We invite you to explore our exclusive offerings at S OT H E BYS H OM E S.C OM/PASADENA
SAN MARINO
Offered at $3,950,000 1047oakgroveplace.com SAN MARINO
Offered at $1,749,000 2825sheffield.com GLENDALE
Offered at $1,599,000 3385eastchevychase.com GLENDALE
Offered at $1,125,000 1431hillsidedrive.com *in order from left to right, top to bottom
sothebyshomes.com/pasadena
5
/ Featured Properties / Pasadena Q4 Market Update
Market Snapshot All Pasadena | Q4 2018
$1,400,000
900
$1,200,000 850
$5M and Up
$1,000,000
$3M -$5M Below $1M
800
$800,000
$600,000
750
$400,000
$1M-$3M
700 $200,000
$-
650
2014 2015 2016 2017 2018
Total Volume by Price Point 30 % 53 % 9% 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 Q4 Market Update
at a glance {Q4 | 2018}
altadena
+6
%
Change in Average Selling Price {2018 v 2017}
+2
%
Change in Units Sold {2018 v 2017}
92 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,200,000
120
$1,000,000
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
6%
7%
-
2%
6%
2018
$971,585
$836,900
-1%
92
41
2017
$912,676
$779,000
2%
90
38
2016
$868,595
$778,000
-3%
88
51
2015
$778,973
$700,000
-1%
108
53
2014
$718,769
$625,000
-5%
95
75
Q4 {2018 v 2017}
Change
9
/ Altadena / Pasadena Q4 Market Update
|
Average Selling Price Total Units Sold $1,850,000
140
$1,800,000
120
$1,750,000
100
$1,700,000
80
$1,650,000
60
$1,600,000
40
$1,550,000
20
$1,500,000
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-9%
-12%
-
-29%
22%
2018
$1,619,383
$1,189,000
-8%
75
63
2017
$1,786,824
$1,349,000
-10%
106
52
2016
$1,633,148
$1,179,000
-9%
114
62
2015
$1,813,564
$1,375,000
-9%
117
59
2014
$1,738,188
$1,400,000
-5%
117
78
Pasadena Q4 Market Update / Arcadia / 10
at a glance {Q4 | 2018}
arcadia
-9
%
Change in Average Selling Price {2018 v 2017}
-29
%
Change in Units Sold {2018 v 2017}
75 Units Sold
1.6m
$
Average Selling Price
at a glance {Q4 | 2018}
GLENDALE
+5
%
Change in Average Selling Price {2018 v 2017}
-15
%
Change in Units Sold {2018 v 2017}
188 Units Sold
1m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,200,000
250
$1,000,000
200
$800,000 150 $600,000 100 $400,000 50
$200,000 $-
0
2014
2015
2016
2017
2018
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
5%
9%
-
-15%
12%
2018
$1,027,464
$950,000
-2%
188
45
2017
$981,143
$875,000
-3%
220
41
2016
$917,494
$851,500
-1%
234
47
2015
$820,018
$784,500
-1%
198
45
2014
$792,609
$720,500
-3%
224
80
13
/ Glendale / Pasadena Q4 Market Update
|
Average Selling Price Total Units Sold $2,400,000
62 60
$2,300,000
58
$2,200,000
56
$2,100,000
54
$2,000,000
52 50
$1,900,000
48
$1,800,000
46
$1,700,000
44
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
15%
-2%
-
16%
27%
2018
$2,277,682
$1,637,500
7%
58
62
2017
$1,978,798
$1,675,500
-2%
50
48
2016
$1,922,819
$1,660,000
-3%
59
66
2015
$1,918,388
$1,656,250
-4%
60
62
2014
$1,949,111
$1,487,500
-5%
56
99
Pasadena Q4 Market Update / La Canada Flintridge / 14
at a glance {Q4 | 2018}
la caĂąada flintridge
+15
%
Change in Average Selling Price {2018 v 2017}
16
%
Change in Units Sold {2018 v 2017}
58 Units Sold
2.3m
$
Average Selling Price
at a glance {Q4 | 2018}
PASADENA
+10
%
Change in Average Selling Price {2018 v 2017}
+8
%
Change in Units Sold {2018 v 2017}
200 Units Sold
1.4m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,600,000
250
$1,400,000 200
$1,200,000 $1,000,000
150
$800,000 100
$600,000 $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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
10%
0%
-
8%
9%
2018
$1,381,338
$950,000
-3%
200
43
2017
$1,259,399
$952,000
0%
185
40
2016
$1,090,043
$852,325
-75%
231
50
2015
$1,041,656
$790,000
-3%
210
53
2014
$929,540
$745,000
-5%
195
77
17
/ Pasadena / Pasadena Q4 Market Update
|
Average Selling Price Total Units Sold $900,000
90 80
$850,000
70 60
$800,000
50 40
$750,000
30 20
$700,000
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
2%
-3%
-
0%
25%
2018
$870,807
$765,000
-6%
59
49
2017
$852,361
$787,000
-1%
59
39
2016
$822,319
$765,000
-3%
64
29
2015
$732,247
$703,500
-4%
60
50
2014
$761,096
$705,000
-3%
77
76
Pasadena Q4 Market Update / San Gabriel / 18
at a glance {Q4 | 2018}
SAN GABRIEL
+2
%
Change in Average Selling Price {2018 v 2017}
0
%
Change in Units Sold {2018 v 2017}
59 Units Sold
900k
$
Average Selling Price
at a glance {Q4 | 2018}
san marino
-17
%
Change in Average Selling Price {2018 v 2017}
-19
%
Change in Units Sold {2018 v 2017}
25 Units Sold
2.4m
$
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-17%
7%
-
-19%
-32%
2018
$2,392,178
$2,138,000
-7%
25
64
2017
$2,873,150
$2,000,000
-7%
31
94
2016
$2,647,480
$2,150,000
-5%
31
60
2015
$2,376,115
$2,250,000
-3%
32
43
2014
$2,183,286
$2,035,000
0%
24
62
21
/ San Marino / Pasadena Q4 Market Update
|
Average Selling Price Total Units Sold $1,080,000
35
$1,060,000
30
$1,040,000
25
$1,020,000 $1,000,000
20
$980,000 15
$960,000 $940,000
10
$920,000
5
$900,000 $880,000
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
11%
2%
-
-22%
-12%
2018
$1,058,335
$945,000
-6%
18
38
2017
$951,848
$925,000
-5%
23
43
2016
$1,048,100
$950,000
-5%
20
52
2015
$970,834
$920,000
-4%
29
46
2014
$1,039,394
$950,000
-6%
27
73
Pasadena Q4 Market Update / Sierra Madre / 22
at a glance {Q4 | 2018}
sierra madre
+11
%
Change in Average Selling Price {2018 v 2017}
-22
%
Change in Units Sold {2018 v 2017}
18 Units Sold
1.1m
$
Average Selling Price
at a glance {Q4 | 2018}
south pasadena
-15
%
Change in Average Selling Price {2018 v 2017}
47
%
Change in Units Sold {2018 v 2017}
22 Units Sold
1.2m
$
Average Selling Price
|
Average Selling Price Total Units Sold $1,450,000
40
$1,400,000
35
$1,350,000
30
$1,300,000
25
$1,250,000
20
$1,200,000
15
$1,150,000
10
$1,100,000
5
$1,050,000
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
Q4
Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market
{2018 v 2017}
Change
-15%
-5%
-
47%
12%
2018
$1,183,694
$1,220,225
-3%
22
41
2017
$1,396,397
$1,284,455
2%
15
37
2016
$1,380,989
$1,300,000
0%
35
48
2015
$1,288,975
$1,289,500
-2%
32
43
2014
$1,263,651
$1,204,000
0%
35
73
25
/ South Pasadena / Pasadena Q4 Market Update
ARCADIA
Lower Rancho Home Last asking $1,588,000
Extraordinary Results We celebrate the notable success of our associates and clients
PASADENA
The Montana Ultimate Luxury Residence Last asking $1,995,000 PASADENA
Breathtaking Arroyo Views Last asking $1,488,000 SOUTH PASADENA
1901 Traditional Craftsman Last asking $1,350,000 PASADENA
Enchanting Colonial Revival Last asking $1,298,000 *in order from left to right, top to bottom
sothebyshomes.com/pasadena 27
/ Significant Sales / Pasadena Q4 Market Update
PHOTO BY PAUL VAN COTTHEM ON UNSPLASH
w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com
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