South Pasadena Homes for Sale and Real Estate Market Update 01.07.14
This is a summary of South Pasadena CA homes for sale and the real estate market update for those currently in escrow and sales for 2013 with a comparison to 2012 sales. All information is from our local multiple listing service(mls) as of January 6, 2014.
South Pasadena is a separate city within the San Gabriel Valley of Los Angeles. In 2013, the city celebrated its 125th birthday. It is so widely known in the area as capturing the spirit of small town America with its tree-lined streets of character homes that it often fills in for cities across the country for filming.
Add in well-regarded schools, popular parks and recreation programs, a fine public library and you can understand the popularity of the city.
Discover unique shops and galleries, interesting dining options plus the well-attended weekly Farmers Market near the Gold Line light rail station at Mission and Meridian. The convenient location is yet another draw for the city which makes commuting throughout Los Angeles just a bit better - again, relative would be the operative word here. The city's participation in the annual Tournament of Roses parade as a self-built entry is the longest in parade history.
There are currently currently just 14 South Pasadena homes on the market for sale. They range in price from $590,999 to $5,980,000. There are eleven properties in escrow. 2013 saw 137 single family homes, according to mls statistics, which ranged in price from $400,000 to $2,700,000 with an average sales price of $1,096,337(median price $940,000). The average price per square foot for the year was $531.44. The homes sold for an average 102.78% of the last list price and 84 of those properties sold for at least the last list price offered.
During the same period in 2012, there were 120 single family homes sold in South Pasadena. The closed prices ranged from $300,000 to $5,950,000 with an average sales price of $1,008,091(median price $870,000). The homes sold for an average 98.47% of last list price.
Inventory of South Pasadena real estate for sale remains low as it has during the last few years which has resulted in many properties selling with multiple offers and often over list price.
This is especially true for homes that first come on the market where buyers may have “lost” a home during a previous multiple offer situation so they are well aware of the competitive nature of the market. Those homes that are priced and presented well receive a great deal of attention - translation sell quickly and for the highest price.
Home buyers in South Pasadena are well aware that they need to be prepared to act quickly and that offer presentation deadlines are published when offers will be reviewed. Check South Pasadena real estate online at www.camoves.com/michael..jacobs but yet contact me at 818.516.4393 cell or michaeljacobs@coldwellbanker.com if you are not currently represented with local real estate representation either as a prospective buyer or homeowner thinking of selling. This is extremely important in today’s marketplace.
South Pasadena Homes for Sale and Real Estate Market Update 01.07.14
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