Along “Millionaire’s Row” in Pasadena
300 South Orange Grove Boulevard
This is a market update for the South Orange Grove corridor in Pasadena for condominiums and townhomes as of June 10, 2012. First, an explanation of the boundaries used for this report -- in addition to the properties along South Orange Grove, this report includes the streets that run parallel to California from Green Street south but do not include the condos located on California. It also includes condos on South Grand and the Moule and Polyzoides complexes along South Arroyo Drive. The name “Millionaire’s Row” dates back to the early twentieth century when grand mansions lined the wide boulevard -- today condominium and townhome complexes have replaced most of these estate homes. The Wrigley Mansion the Tournament of Roses Home and the headquarters of the annual Rose Parade is one of the notable exceptions.
251 South Orange Grove Boulevard
There are currently eleven properties in this category on the market for sale according to our local multiple listing service(MLS). The price range is from $590,000(a two level Cravens Court townhouse style condo with a large patio) to $1,225,000(a historic Marston & Van Pelt two level with dramatic views of the Colorado Street Bridge in Vista del Arroyo). Ten properties along “Millionaire’s Row” are in escrow. In May 2012, there were six sales closing at an average sales prices of $720,000(median sales price $640,000). The sales ranged from $485,000 to $1,200,000. May 2010 reflected one sale -- a second floor unit at Rose Tree -- closed at $610,000.
Along Millionaire's Row with front row view of Wrigley Mansion
For the January 1 through May 31 time period in 2012 there have been 22 sales ranging in price from $353,000(a rare short sale on Millionaire’s Row at 1250 South Orange Grove) to $1,100,000 - a dramatic two story condo at 300 South Orange Grove. The average sales price for the period according to the MLS is $609,156(median sales price $587,000). During this same period in 2011, there were 15 sales ranging in closed prices from $369,000 to $1,200,000. The average sales price was $653,967(median sales price $615,000).
380 South Orange Grove Boulevard
If you would like more detailed information regarding the South Orange Grove corridor or any Pasadena/San Gabriel Valley neighborhood contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com. Are you a homeowner thinking of selling, a possible home buyer or just curious about Pasadena/San Gabriel Valley real estate, feel free to contact me. Have a great day!
Vista del Arroyo Historic Bungalows
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