Download - Pasadena Market Update | Q2 2015
All data within this document is pulled from the Pasadena MLS.
Pasadena Market UpdateSecond Quarter 2015
PASADENA BROKERAGE
800 East Colorado Boulevard, Suite 150
Pasadena, CA 91101
t. 626.229.0909
sothebyshomes.com/pasadena
Resort-Style Living, Sierra Madre, CA | web: 0277612 | Mark Ogden
ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA
FEATURED LISTINGS
PASADENA | $1,612,500 | web: 0277583
PASADENA | $2,998,000 | web: 0277562LA-CANADA FLINTRIDGE | $3,980,000 | web: 0277588
PASADENA | $2,250,000 | web: 0277599
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. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. 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.
A MESSAGE FROM OUR MANAGER: Jeff Maynard
I am pleased to report that in the second quarter of 2015, four of the five areas in this marketreport enjoyed a steady increase in their average sales prices according to the PasadenaFoothills Association of Realtors ITEC Multiple Listing Service. The number of units sold in allfive areas was up as well, which is a positive sign. A trend that appears to be slowly taking hold is that buyers are keen to establish a proper value and are willing to wait if they feel a property is overpriced. Those homes will sit with no or fewer offers. This can be a costly and painful process so make sure you have an agent who knows your market. Sotheby’s International Realty – Pasadena brokerage’s listings often get multiple offers as extensive research is conducted to formulate the suggested sales price for our sellers. We are local experts with International connections that help our clients receive exposure like no other company can deliver. Our office enjoyed incredible closed volume growth in the second quarter as compared with the same time last year and we would like to thank our many satisfied customers for placing their trust in us.
sothebyshomes.com/pasadena
PASADENAPasadena 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.
SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015
UNITS SOLD 231 388 298 230 280
AVERAGE SELLING PRICE $828,564 $754,111 $884,121 $1,054,242 $1,049,033
AVERAGE LISTING PRICE $1,143,795 $792,079 $875,475 $1,043,198 $1,055,887
DISCOUNT % 72% 95% 101% 101% 99%
MEDIAN $626,000 $562,500 $695,000 $803,000 $806,500
VOLUME $191,398,255 $292,595,162 $263,468,051 $242,475,647 $293,729,275
AVE DOM 84 82 48 44 47
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2011 2012 2013 2014 2015
Altadena La Canada Pasadena San Marino South Pasadena
FIVE YEARS OF AVERAGE SELLING PRICES | Q2
0
50
100
150
200
250
300
350
400
450
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA
SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015
UNITS SOLD 96 110 117 106 124
AVERAGE SELLING PRICE $582,235 $554,350 $653,419 $726,640 $753,885
AVERAGE LISTING PRICE $624,997 $573,864 $650,587 $713,402 $745,657
DISCOUNT % 93% 97% 100% 102% 101%
MEDIAN $474,600 $429,250 $590,000 $639,500 $652,250
VOLUME $55,894,600 $60,978,481 $76,450,004 $77,023,812 $93,481,781
AVE DOM 80 72 51 44 50
SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015
UNITS SOLD 35 36 44 35 36
AVERAGE SELLING PRICE $1,768,314 $1,730,151 $2,355,744 $2,168,865 $2,740,444
AVERAGE LISTING PRICE $1,929,566 $1,737,056 $2,260,450 $2,013,137 $2,718,719
DISCOUNT % 92% 100% 104% 108% 101%
MEDIAN $1,328,000 $1,552,500 $1,925,000 $2,050,000 $2,500,000
VOLUME $61,891,000 $62,285,450 $103,652,750 $75,910,270 $98,656,000
AVE DOM 79 52 32 25 46
ALTADENASited 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.
SAN MARINOSan 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.
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
0
20
40
60
80
100
120
140
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
0
5
10
15
20
25
30
35
40
45
50
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
sothebyshomes.com/pasadena
LA CAÑADA FLINTRIDGELa 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.
SOUTH PASADENASouth 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.
SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015
UNITS SOLD 66 80 72 67 87
AVERAGE SELLING PRICE $1,438,812 $1,288,431 $1,482,980 $1,462,530 $1,855,751
AVERAGE LISTING PRICE $1,543,979 $1,355,009 $1,505,624 $1,455,487 $1,832,106
DISCOUNT % 93% 95% 98% 100% 101%
MEDIAN $1,179,500 $1,180,000 $1,302,500 $1,299,000 $1,589,000
VOLUME $94,961,600 $103,074,500 $106,774,540 $97,989,516 $161,450,373
AVE DOM 70 62 40 44 35
SINGLE FAMILY HOMES | Q2 2011 2012 2013 2014 2015
UNITS SOLD 42 40 41 30 34
AVERAGE SELLING PRICE $952,216 $856,064 $1,156,241 $1,243,594 $1,314,348
AVERAGE LISTING PRICE $980,238 $912,422 $1,134,727 $1,190,800 $1,297,735
DISCOUNT % 97% 94% 102% 104% 101%
MEDIAN $890,500 $667,500 $975,000 $1,181,750 $1,283,788
VOLUME $39,993,087 $34,242,550 $47,405,890 $37,307,825 $44,687,825
AVE DOM 59 83 45 37 51
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q2
0
10
20
30
40
50
60
70
80
90
100
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
$1,800,000
$2,000,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
0
5
10
15
20
25
30
35
40
45
$-
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
2011 2012 2013 2014 2015
Average Selling Price Units Sold
left to right from top to bottom:
METROPOLITAN MARKETS
NEW YORK, NY | Web: 00110206 | $3,250,000
HOUSTON, TX | Web: 1232987 | $2,999,000
LOS ANGELES, CA | Web: 0286222 | $3,298,000
RESORT MARKETS
MALIBU, CA | Web: 0172733 | $3,200,000
EAST HAMPTON, NY | Web: 0046177 | $2,995,000
SANTA BARBARA, CA | Web: 0113898 | $3,195,000
FOREIGN MARKETS
GERMANY | Web: S76NQ3 | $3,590,261
ITALY | Web: MEQC8Z | $3,926,848
ISRAEL | Web: 3DWFN3 | $3,904,420
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