South Pasadena CA|Single Family Homes For Sale and Market Update
This is a recap of South Pasadena single family homes for sale along with market activity for the first eight months of 2014. All statistical information is from our local multiple listing service(mls) as of September 5, 2014.
South Pasadena is a separate city in the San Gabriel Valley within Los Angeles County and celebrated its 125th anniversary as a city in 2013. With its many tree-lined streets and character homes, it has been called Anywhere USA. That nickname is certainly in evidence as film trucks can be seen nearly every week as South Pasadena fills in for cities in movies, television and commercials.
The small town atmosphere of South Pasadena(also known as South Pas) is shown through its civic pride with highly acclaimed schools(top ten in the entire state), well-regarded public library and popular parks and recreation programs for all ages. There is interesting shopping/dining and many community events including its weekly Farmers Market held near the South Pasadena Gold Line light rail station. You will find homes which embrace Craftsman, Spanish, Mediterranean, English architecture along with ranch and very modern designs too.
There are currently 25 South Pasadena homes for sale ranging from $550,000 to $3,688,000 with another 21 in escrow. During August, 2014 there were eight mls-reported closed transactions from $720,000 to $1,585,000 with an average sales price of $1,108,486(median sales price $1,067,500). In the August, 2013 the average sales price was $1,112,147(median $880,000) for the 17 South Pas home sales.
For the first eight months of 2014, there have 81 mls-reported sales. The transactions ranged in sales prices from $496,854 to $3,745,000 with an average price of $1,161,533(median $1,075,000). They sold at an average 104.21% of last list price and for an average price per square foot of $631.00.
In the same January through August time period in 2013, there were 96 mls-reported transactions. The sales ranged from $300,000 to $2,700,000 with an average sales price of $1,094,264(median $957,500). They sold at an average 102.02% of list price.
Inventory of South Pas homes for sale has increased recently -- last year at the same time there were 14 homes on the market for sale versus today’s 25 but of those now on the market about ⅓ have come on the market within the last ten days. As an example of the current market, I recently submitted an offer for clients of a fixer with approximately 1200 square feet with a list price of $799,000 -- there were more than 20 offers and no buyer was countered unless their original offer was $900,000.
If you would like to know more detailed information about South Pasadena real estate contact me at 818.516.4393 cell.
South Pasadena CA|Single Family Homes For Sale and Market Update
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