South Pasadena CA
Homes For Sale and Market Update 2014
This is a summary of South Pasadena homes for sale and a real estate market update for sales in 2014 with a comparison to 2013 sales.
Statistical information presented in this report is from our local multiple listing service and may not include all transactions in the area.
South Pasadena is a separate city within the San Gabriel Valley of Los Angeles County. It is well-known for its character homes on tree-lined streets which have made it a popular filming destination for its ability to “play” Small Town America. Highly acclaimed public schools, popular parks and recreation programs, a well-regarded library and its convenient location boost the appeal of this city which was incorporated in 1888.
On and around Mission Street, you will find unique dining and interesting shops and the weekly(each Thursday) you might find me in the crowd at the Farmers Market which is held next to the Gold Line station on Meridian Street at Mission. Adding to the small town appeal of South Pas(as it is fondly known) is the great community spirit with local parades and events held often. It is one of only seven all-volunteer self-built floats in the Pasadena Tournament of Roses parade(held each January 1).
There are currently (January 14, 2015) fifteen South Pasadena homes for sale ranging from $725,000 to $5,088,000 with another eight properties in escrow.
For full year 2014, there were 127 mls-reported closed transactions. These sales ranged from $496,854 to $3,745,000 with an average sales price of $1,181,882(median sales price $1,100,000). The still competitive South Pasadena real estate market is reflected by the average 103.76% sales price to last list price. Average price per square foot was $614.95.
For the same January to December period in 2013, there were 137 sales according to mls reports ranging from $400,000 to $2,700,000 with an average sales price of $1,095,366 (median $940,000). They sold on average at 101.75 sales to list price and for $532.36 per square foot.
While I don’t have a crystal ball for predicting what will happen with South Pasadena real estate in 2015, the low inventory of homes for sale has continued to be a factor that has continued to make multiple offers and sales over the list price common. This isn’t should make sellers overly confident when placing their homes on the market for sale. Homes need to be properly priced and presented along with ease of showing(and selling). Buyers need to be aware of current trends and be well-prepared with the proper documentation and mindful of the various strategies that are necessary to win this competitive market.
If you would like to know more detailed information about South Pasadena real estate whether you are a prospective buyer or a homeowner thinking of selling contact me at 818.516.4393 cell.
South Pasadena CA
Homes For Sale and Market Update 2014
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