South Pasadena Market Report - Condos/Townhomes/Lofts -- Oh My!

March/1st Quarter 2012 Report


South Pasadena Condos, Townhomes, Lofts

Buster’s on Mission Street

notice the shadow from the railroad crossing?

ideally located across from the Mission Street Gold Line Station and Thursday Farmer’s Market



South Pasadena is not a suburb of Pasadena but its own separate city. You got that!    Its own school district(and highly acclaimed it might be added),  its own parks and recreation program, well-regarded library, its own Thursday farmer’s market near the Gold Line station, unique stores and restaurants and miles of tree-lined streets of character homes from smaller cottages to grand estates.  All snarkiness(is that a word) aside - what if you are looking for a condominium, townhouse or loft in “Tree City”?    Yes, you can find it in South Pasadena.   While inventory in this category remains limited - working with the right Realtor(hint hint) you may hear of something before it hits the market.



South Pasadena Condos, Townhomes, Lofts

Mission Meridian Village

Lofts, Condos, Townhomes and Three Patio Homes




Here’s the report for South Pasadena in the condominium, townhouse and loft category for the month of March and first quarter of 2012:

Monthly sales for March 2012: 3
Price range for sales: $351,000 to $551,000
Average sales price: $480,667
Median sales price: $538,000
Currently available for sale: 10
Range in price: $279,900 to $669,000

Number in escrow : 4

Range in price: $288,000 to $749,000


Monthly sales for March 2011: 4
Price range for sales: $287,000 to $430,000
Average sales price: $364,250
Median sales price: $370,000





Station Lofts


First quarter results 2012: 13
Price range for sales: $289,000 to $715,000
Average sales price: $478,538
Median sales price: $485,000

First quarter results 2011: 18
Price range for sales: $287,000 to $618,000
Average sales price: $404,028
Median sales price: $368,500


The biggest contributor to the decrease in the number of units in South Pasadena from 2012 to 2011 was the sale of the newly constructed units at both Station Lofts(seven in 2011 and one in 2012) and Mission Commons(two in 2011 and one in 2012).   Station Lofts and Mission Commons are both sold out.   

If you would like more detailed information regarding condos, townhomes or lofts in South Pasadena contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com



Ostrich Farm Lofts

Michael Jacobs

Coldwell Banker Residential Brokerage

DRE # 01165532

2065 Huntington Drive

San Marino, California 91108

Cellular:  818.516.4393

Office:  626.685.5246

Office Fax:  626.568.9507

michaeljacobs@coldwellbanker.com

www.camoves.com/michael.jacobs

 

 

 
This post has been included in California Real Estate News Los Angeles County, CA Real Estate News South Pasadena, CA Real Estate News
Post is included in group: Condos, What you need to know?
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16 Comments on South Pasadena Market Report - Condos/Townhomes/Lofts -- Oh My!

APR
24
2012
986,567 Points 80 Featured Posts Called Shot Master

Something tells me I'd truly enjoy loft style living in South Pasadena............
3:51am • #1
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Hi Roger -- something tells me you could(and have) lived in many different environments.  South Pasadena has much to offer -- if you ever have the urge to move west -- I'm sure we could find you something.  
4:59am • #2
729,193 Points 103 Featured Posts Outside Blog Called Shot Master

Hi Michael - Another nice market report that really communicates the ambience of place as well as the numbers. My brother, who lives in Burbank, is visiting and I asked him about South Pasadena - he loves the city, wishes he lived there, and has nothing but nice things to say about it.

 
6:59am • #3
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Dick -- thanks very much -- communities are indeed much more than statistics.  Today, residents of Burbank and the entire state have much to be proud -- I am watching the news this morning and a middle school teacher from Luther Burbank Middle School has just been announced by President Obama as US Teacher of the Year -- her students, the residents of the city and state plus students(past and present) and teachers across the country have much to be proud.
7:23am • #4
655,712 Points 56 Featured Posts Outside Blog Called Shot Master

great market report...sounds like a bit of a limited supply. Just like in my market here in Florida I think buyers in your area need to jump on these low interest rates on reasonable prices...if not they will be saying ...I wish I would have bought back in 2012!
9:47am • #5
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Jeffrey -- timing is certainly an important component in real estate -- interest rates are at or near historic lows and while inventory of homes available for sale is not high -- there are some exceptional values out there.   
1:40pm • #6
585,838 Points 46 Featured Posts Outside Blog Called Shot Master

Good afternoon Michael -

Great report and shows your expertise in the Pasadena market my friend.  Lofts are in high demand here but with them come a hefty price tag.  Most are downtown on Route 66 so it's a big deal to live and play there. 

Hope you're having a great day my friend.

 
1:43pm • #7
APR
25
2012
1,442,535 Points 26 Featured Posts Outside Blog Called Shot Master

Thanks, Michael, for your market report.  Home buyers need to be well prepared when seeking purchase opportunities.  Have a pre-approval letter in hand and using an experienced buyer agent are very important steps in the process.
9:19am • #8
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Roy -- you are right about the proper preparation for buyers -- it's so important.   Thanks for stopping by.
9:28am • #9
511,432 Points 12 Featured Posts Called Shot Master

As usual, an excellent market reports for South Pasadena buyers and sellers presented by Michael Jacobs!
12:33pm • #10
697,980 Points 15 Featured Posts Outside Blog Called Shot Master

"working with the right Realtor(hint hint)", I mean Michael Jacobs will save you time and money when shopping for homes in the South Pasadena area. 

Why wouldn't you use the most knowledgable realtor in the area?
1:25pm • #11
APR
26
2012
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Don -- thanks very much.

Suzanne -- you are too kind(is that even possible).  
8:38am • #12
APR
27
2012
1,442,535 Points 26 Featured Posts Outside Blog Called Shot Master

Have a most productive weekend as home buyers take advantage of the purchase opportunities.
12:33pm • #13
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Hi Roy -- thanks very much for the good wishes and for the photo - great colors - perfect for Spring!
1:42pm • #14
1,652,689 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Michael, Market reports with some information about the area are always so much more fun to read.  Nicely done and love the pics.  Great example of an excellent market report.
7:42pm • #15
APR
28
2012
589,448 Points 58 Featured Posts Outside Blog Called Shot Master

Judy -- thanks for your comments -- I believe by including some background in a market report, a new reader can get a flavor for a neighborhood/area beyond the statistics presented.   I appreciate you stopping by and commenting.
6:58pm • #16


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Michael Jacobs, Pasadena CA/SanGabriel Valley Realtor, 818.516.4393 cell

Pasadena, CA

More about me…

Coldwell Banker Residential Real Estate

Address: 2065 Huntington Drive, San Marino, CA, 91108

Office Phone: (626) 685-5246

Cell Phone: (818) 516-4393

Email Me

Your source for real estate representation in the San Gabriel Valley and northeast communities of the city of Los Angeles including: Pasadena, Altadena, South Pasadena, San Marino, Alhambra, San Gabriel, Temple City, Arcadia, Sierra Madre, Monrovia, Duarte, Bradbury, Azusa, Glendora, Claremont, Glendale and La Canada Flintridge as well as Highland Park, Monterey Hills, Eagle Rock, Mt Washington, Montecito Heights, Glassell Park and Sagamore Park.


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