pasadena market update | q4 2014
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All data within this document is pulled from the Pasadena MLS.
Pasadena Market UpdateFourth Quarter 2014
PASADENA BROKERAGE
459 East Colorado Boulevard
Pasadena, CA 91101
t. 626.229.0909
sothebyshomes.com/pasadena
Spanish Colonial Compound, Pasadena, CA | web: 0277337 | Seager & Seager
ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA
A MESSAGE FROM OUR MANAGER: Jeff Maynard
I am pleased to report that in the fourth quarter of 2014, all of the five areas in this market update – Pasadena, San Marino, La Canada Flintridge, South Pasadena and Altadena –enjoyed a steady increase in their average sales prices according to the Pasadena Foothills Association of Realtors ITEC Multiple Listing Service.The number of units sold in three of the five areas was down, however if the market had enjoyed more inventory of homes to sell, the unit numbers for the MLS could have been much better as demand is still good for well-priced homes. A cautionary note, the market is seeing overpriced listings starting to linger on the market; Average Days On Market had increased in three of the five areas, not dramatically, but making clear that pricing a home well is a huge driver of a successful outcome. Having said that, there have been many multiple offers on well-priced homes and many that far exceed their original asking price, so if you are thinking of selling your home, market conditions are still very positive. We at Sotheby’s International Realty appreciate providing you with the utmost in real estate services.
FEATURED LISTINGS
ARCADIA | $948,000 | web: 0277445Pasadena Brokerage | Deborah Maxson | 626.396.3979
ARCADIA | $1,798,000 | web: 0277451Pasadena Brokerage | Alderson & Hayek 626.396.6805
PASADENA | $3,498,000 | web: 0277404Pasadena Brokerage | David & Tanya Grimes | 626.396.6838
LA CANADA | $1,250,000 | web: 0277446Pasadena Brokerage | Mark Ogden | 626.396.3908
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.
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FIVE YEARS OF AVERAGE SELLING PRICES | Q4
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 | Q4 2010 2011 2012 2013 2014
UNITS SOLD 196 188 298 251 192
AVERAGE SELLING PRICE $709,395 $674,286 $739,716 $866,762 $929,491
AVERAGE LISTING PRICE $784,839 $717,740 $800,970 $997,117 $947,865
DISCOUNT 90% 94% 92% 87% 98%
MEDIAN $561,944 $554,500 $563,750 $699,000 $746,000
AVERAGE DAYS ON MARKET 96 79 71 52 48
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
0
50
100
150
200
250
300
350
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
2010 2011 2012 2013 2014
Average Selling Price Units Sold
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2010 2011 2012 2013 2014
Altadena La Canada Pasadena San Marino South Pasadena
ALTADENA | LA CANADA | PASADENA | SAN MARINO | SOUTH PASADENA
SINGLE FAMILY HOMES | Q4 2010 2011 2012 2013 2014
UNITS SOLD 88 76 107 104 94
AVERAGE SELLING PRICE $542,329 $557,138 $601,930 $695,144 $722,003
AVERAGE LISTING PRICE $570,514 $593,741 $623,979 $692,932 $743,282
DISCOUNT 95% 94% 96% 100% 97%
MEDIAN $495,000 $500,000 $510,000 $553,250 $622,500
AVERAGE DAYS ON MARKET 80 75 60 44 55
SINGLE FAMILY HOMES | Q4 2010 2011 2012 2013 2014
UNITS SOLD 18 31 33 39 24
AVERAGE SELLING PRICE $2,213,226 $2,107,945 $1,838,424 $1,998,054 $2,183,286
AVERAGE LISTING PRICE $2,324,833 $2,288,371 $1,835,327 $1,947,641 $2,172,500
DISCOUNT 95% 92% 100% 103% 100%
MEDIAN $1,699,440 $1,600,000 $1,550,000 $1,818,000 $2,035,000
AVERAGE DAYS ON MARKET 56 88 51 42 36
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 | Q4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
0
20
40
60
80
100
120
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
2010 2011 2012 2013 2014
Average Selling Price Units Sold
0
5
10
15
20
25
30
35
40
45
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2010 2011 2012 2013 2014
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 | Q4 2010 2011 2012 2013 2014
UNITS SOLD 54 33 62 54 56
AVERAGE SELLING PRICE $1,277,369 $1,112,862 $1,504,019 $1,480,328 $1,949,111
AVERAGE LISTING PRICE $1,408,619 $1,185,150 $1,636,173 $1,539,704 $2,042,625
DISCOUNT 91% 94% 92% 96% 95%
MEDIAN $1,100,000 $1,000,000 $1,170,000 $1,210,500 $1,487,500
AVERAGE DAYS ON MARKET 102 83 75 59 67
SINGLE FAMILY HOMES | Q4 2010 2011 2012 2013 2014
UNITS SOLD 28 24 39 31 35
AVERAGE SELLING PRICE $843,865 $1,035,592 $1,074,551 $1,143,273 $1,263,651
AVERAGE LISTING PRICE $875,203 $1,082,450 $1,106,874 $1,144,671 $1,264,140
DISCOUNT 96% 96% 97% 100% 100%
MEDIAN $823,750 $896,250 $850,000 $915,000 $1,204,000
AVERAGE DAYS ON MARKET 65 62 62 39 48
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
AVERAGE SALE PRICE | TOTAL SFH SOLD | Q4
0
10
20
30
40
50
60
70
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
2010 2011 2012 2013 2014
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
2010 2011 2012 2013 2014
Average Selling Price Units Sold
ON THE MARKET
left to right from top to bottom:
METROPOLITAN MARKETS
NEW YORK, NY | Web: 0019518 | $1,285,000
SAN FRANCISCO, CA | Web: 0087074 | $1,998,000
HOUSTON, TX | Web: 1231592 | $1,250,000
RESORT MARKETS
MALIBU, CA | Web: 0172738 | $1,649,000
PALM BEACH, FL | Web: 0076476 | $1,495,000
SANTA BARBARA, CA | Web: 0592850 | $1,149,000
FOREIGN MARKETS
VIETNAM | Web: SMT2WL | $1,500,000
SOUTH AFRICA | Web: E5JGKG | $1,382,266
COSTA RICA | Web: VKP28Q | $1,298,000
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