Pasadena CA - Look What Happened Along South Orange Grove Blvd in 2012 - Condo/Townhome Market Update
It’s that time of the year to look back and review the condominium and townhome market along the South Orange Grove Boulevard corridor for 2012. This highly desired area has recently seen a lot of attention as Pasadena CA was “on stage” for the annual Tournament of Roses parade on Tuesday, January 1, 2013. The Rose Parade held each January was originally an idea of the city’s Valley Hunt Club to showcase the area’s wonderful weather to invite those living in much colder environs to visit Pasadena(and love it so much, they would stay).
This year’s parade, the 124th, again began at the Wrigley House(yes, of chewing gum fame) on South Orange Grove as it proceeded north to Colorado Boulevard and then eastward to its destination in East Pasadena. The broad, tree-lined boulevard was once well-known for its grand estates and is now home to some of the most luxuriest condominium and townhome complexes in Pasadena and the San Gabriel Valley.
The highly desirable location is just north of the Arroyo Seco Parkway(110) and south of the Ventura(134) and Foothill(210) Freeways. In addition to transportation the area, also known as “MIllionaires Row” due to its storied history, is close to Old Pasadena with many fine shopping, dining, entertainment, museums and more.
In 2012, there were 56 sales of condos and townhomes in the South Orange Grove corridor according to our local multiple listing service(MLS). The sales ranged from $353,000 to $1,200,000 with an average sales price of $668,333(median sales price $633,250). The average sales price per square foot was $341.65.
As of January 3, 2013, there are just six properties in this category available for sale and two in escrow. Inventory of properties available for sale remained low during 2012 -- there is definitely demand by buyers in the area.
In 2011, there were also 56 sales of condos/townhomes in Millionaires Row according to the MLS. Sales ranged from $369,000 to $1,850,000 with an average sales price of $685,645(median price $643,000). The average sales price per square foot was $334.87 in 2011.
You can check out condos and townhomes plus lofts and single family homes in Pasadena and the San Gabriel Valley at www.camoves.com/michael.jacobs. Better yet contact Michael Jacobs at 818.516.4393 cell or michaeljacobs@coldwellbanker.com as the inventory of properties available for sell is always changing. Whether you are a homeowner thinking of selling, a prospective buyer or just curious about real estate, I welcome the opportunity to speak with you. Have a great 2013!
Pasadena CA - Look What Happened Along South Orange Grove Blvd in 2012 - Condo/Townhome Market Update
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