Pasadena CA September 2011 Sales Recap and Market Update - South Orange Grove Corridor (Condos & Townhomes)
First, a definition of the area for this report is in order. In this 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 to California. The western boundary for this report is the Arroyo(south of the Colorado Street Bridge). This report does not include any of the condos or townhomes in Old Pasadena or those north of the 210 Freeway(so it does not include Orange Grove Village I 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 October 29, 2011 -- it has not been verified and is not guaranteed.
Pasadena CA September 2011 Sales Recap and Market Update - South Orange Grove Corridor (Condos & Townhomes)
According to our local multiple listing service reports there was just one sale in the South Orange Grove Corridor(condos/townhomes) during the month of September, 2011. The sale was a two bedroom/two bath condo at The Atherton(not far from the Valley Hunt Club). It was listed at $599,000 and sold for $565,000. With approximately 1384 square feet, this first floor unit had nice outdoor areas and was built in 1977.
During September 2010, there were six sales. They ranged in sold prices from $550,000 to $850,000 with a median sales price of $572,500 and an average sales price for the month of $650,333. It should be noted that four of those sales were a result of the auction of units at the then newly constructed units at Bridgewater/Arroyo.
Currently, there are 25 condos or townhomes on the market for sale along the South Orange Grove corriodor. They range in price from $325,000 to $1,975,000. Eight units are in escrow with the most recent list prices of $390,000 to $1,200,000. South Orange Grove is one of the most desirable in the San Gabriel Valley....so presentation and pricing continue to be very important, this is not typically a good market for properties in need of repair or updating....buyers want move-in condition.
Pasadena CA September 2011 Sales Recap and Market Update - South Orange Grove Corridor (Condos & Townhomes)
Looking to buy, sell or just curious about condominiums or townhomes along the South Orange Grove corridor or anywhere in Pasadena or the adjacent San Gabriel Valley communities contact Michael Jacobs 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
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