December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA
This is a market recap of condominums and townhomes in the South Orange Grove corridor of Pasadena, California. This area is also known as "Millionaire's Row". This name is from earlier times along South Orange Grove where landmark mansions and estates once lined this gracious broad tree-lined boulevard.
In this report, I extend beyond what some may consider the "prime area" along South Orange Grove Boulevard 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 our local multiple listing service on January 15, 2012 -- it has not been verified and is not guaranteed.
December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA
There were four sales in this category along the South Orange Grove Boulevard corridor in December 2011. The sales ranged in price from $500,000(888 South Orange Grove) to $1,975,000(the spectacular two level townhouse style condo at 300 South Orange Grove). In December 2010 there was one sale in the category - a unit at the Rose Tree condominium complex that closed for $670,000.
As of the date of this post, there are 24 condos/townhomes on the market for sale ranging in price from $320,000(a one bedroom at Castlegate) to $1,495,000(Grand Avenue). There are five properties in escrow ranging in price from $479,000 to $698,000.
I continue to see the number of days on market increasing and numerous price reductions -- sellers can definitely address these two issues by correct pricing upfront and proper presentation(staging can be as simple as de-clutter/touch-up to more extensive renovations). It may be trite but you only have one chance to make a first impression.
December 2011 Market Update - South Orange Grove Boulevard Condos/Townhomes in Pasadena CA
If you would like more detailed information regarding the South Orange Grove condo/townhome market or any micro-market within the San Gabriel Valley or adjacent northeast foothill communities within the city of Los Angeles, contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
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