Pasadena CA April 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
First, a definition of the area for this report is in order. In my report, I extend beyond what some may consider the "prime area" along South Orange Grove Boulevard in Pasadena, CA and include properties south of Colorado Boulevard and north of Columbia. For the eastern boundary, I include Singer Park on California Boulevard and all of the streets that run parallel. The western boundary for this report is the Arroyo(south of the Colorado Street). This report does not include any of the condos or townhomes in Old Pasadena or those north of the 210 Freeway(so does not include Orange Grove Village 1 or II, Continental Court or any of the developments between North Orange Grove and Arroyo Drive). All information is from the multiple listing service on May 13, 2011 -- it has not been verified and is not guaranteed.
Pasadena CA April 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
There were five sales reported in April 2011 ranging in closed sales price from $369,000(a short sale in Vista Grande --- that very cool 1930s building on South Grand) to $675,000(first floor fixer in The Madeline adjacent to Westridge School). There are 31 condos or townhomes along the South Orange Grove Boulevard corridor available for sale ranging in price from $299,000 to $2,375,000. There are three properties in escrow. In April 2010, there were also five sales but the price ranged from $349,000(former coop turned condo next to Singer Park) to $1,325,000(incredible penthouse with amazing terrace). The median price of sold properties in 2010 was $669,000 versus $540,000 in 2011. Again, the numbers of units sold was limited so these numbers can and are easily skewed. It seems that it is certainly a buyers' market along the famous boulevard.
Pasadena CA April 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
Michael Jacobs is a Realtor who serves the Pasadena and San Gabriel Valley as well as the northeast foothill communties within the city of Los Angeles. He can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com
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