South Pasadena CA Condos|Townhomes|Lofts For Sale & Market Update
This is a recap of South Pasadena condos, townhomes and lofts for sale along with a market update for real estate activity so far in 2014.
All statistical information is from our local multiple listing service(mls) as of September 4, 2014.
South Pasadena is a separate city in the San Gabriel Valley of Los Angeles County. With a population of just under 26,000, the city has a reputation for highly acclaimed public schools(currently ranked in the top ten districts for the entire state), a well-regarded public library, excellent parks and recreation programs for residents of all ages, unique shops and dining and many community events including the popular weekly Farmers Market every Thursday afternoon near the Gold Line light rail station.
The city is best known for its single family homes many of which are character style on tree-lined streets or modern homes in the hills with fabulous views but there are also condos, townhomes and lofts available for those who prefer less maintenance and more time to enjoy what South Pasadena and Southern California offer.
There are currently 14 properties on the market for sale ranging in price from $428,000 to $929,000. This is comprised of four condos, six townhomes and four lofts. There are an additional four properties in escrow.
For the first eight months of 2014, there have been 30 mls-reported closed transactions ranging from $307,000 to $815,000 with an average sales price of $538,202(median sales price $520,000). They sold at an average 101.23% of last list price with over 60% selling in excess of last price. The average price per square foot for the period was $428.12.
During the same January through August period in 2013, there were 41 closed sales as reported in our mls. The transactions ranged from $285,000 to $790,000 with an average sales price of $484,714(median $450,000). The average sale versus list price was 101.48% with 60% selling at or above list price.
My update on this category in South Pasadena last September reflected only three properties on the market, so buyers today have more options than in 2013 but choices are still not abundant. It should be noted that well-priced and well-presented properties that are easy to show still are attracting a great deal of attention. Sellers need to be mindful of the increased level of inventory and that today’s buyers are quite savvy of the current market.
If you would like more detailed information about condos, townhomes, lofts or any South Pasadena real estate I welcome the opportunity to discuss your specific needs whether you are a prospective buyer or a property owner thinking of selling. I can be reached at 818.516.4393 cell.
South Pasadena CA Condos|Townhomes|Lofts For Sale & Market Update
Comments(10)