South Pasadena CA First Quarter 2013 Market Update Lofts - Condos -Townhomes
The city of South Pasadena is well-known in the San Gabriel Valley area of Los Angeles County for its tree-lined streets, character homes, highly acclaimed schools, well-regarded parks and recreation programs, fine library as well as the unique shops and restaurants. but there is more than just single family homes in South Pasadena -- lofts, condos and townhomes are a part of the housing picture.
With the opening of the Gold Line light rail station at Meridian and Mission, many loft, condo and townhome buyers have flocked to the city to take advantage of the ‘new urbanism” lifestyle coined by the architectural firm Moule and Polyzoides who developed the Mission Meridian Village in the city.
There are currently five in this category available for sale - one loft at $420,000, three condos priced between $459,000 to $565,000 and a townhome priced at $719,000. Six properties are in escrow. For the first quarter of 2013 there have been 13 sales in the loft, condo and townhome category ranging in price from $302,000 to $790,000 with an average sales price of $460,992(median $439,900).
During the same three month period of January to March 2012, there were also 13 sales in this category. The closed sales ranged in price from $289,000 to $715,000 with an average sales price of $478,538(median $485,000).
For comparative purposes the price per square foot for first quarter 2013 was $374.06 and $355.77 - so the mix of sales had an effect on the average and median sales prices. The lack of available inventory for sale of South Pasadena lofts, condos and townhomes continues to hamper sales.
You can see properties for sale in South Pasadena and throughout the area at www.camoves.com/michael.jacobs or better yet contact me Michael Jacobs directly at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
South Pasadena CA First Quarter 2013 Market Update Lofts - Condos - Townhomes
Comments(9)