South Pasadena CA Lofts Condos Townhomes Market Recap 03.06.15
This is a recap of the loft, condo and townhome segment of the South Pasadena real estate market with a summary of units for sale, in escrow and sold for the first two months of 2015. Statistical information in this report is from our local multiple listing service(mls) as of March 5, 2015) and may not include all transactions in the marketplace.
Although this segment is not a large part of the South Pasadena real estate, it does offer a more affordable alternative for those who want to live in the city which is known to many locals as South Pas. It is located and is not a part of its larger neighbor Pasadena.
Incorporated as a city in 1888, you will find a small town atmosphere with tree-lined streets, unique shops and restaurants, highly acclaimed schools, popular library, well-regarded parks and recreation programs. A weekly Farmers Market is held each Thursday late afternoon near the Gold Line station at Mission and Meridian. While the city may have that small town feel, it offers easy accessibility to big city conveniences.
There are currently five units for sale ranging from $398,000 to $870,000 with an additional six in escrow. For the first two months of the year, there have been six mls-reported closed transactions ranging from $370,000 to $874,500 with an average sales price of $523,888(median sales price $490,000). They have sold at 100.48% of last list price and for $459.58 per square foot on average.
During the same January - February period in 2014, there were also five sales ranging from $345,000 to $758,800 with an average sales price of $560,760(median $520,000). They sold at 99.64% of list price and for $430.59 per square foot on average.
While it is far too early to draw any conclusions or predictions for the South Pasadena real estate market in 2015, there are certain factors that remain true. Inventory of properties in the condo loft townhome segment remains very low and realistically-priced and well-presented properties are particularly well-received by buyers resulting in quicker selling times, often multiple offers and sales over list price.
If you would like more detailed and the most-up-to-date information for South Pasadena zip code 91030 real estate, contact me at 818.516.4393 talk | text.
For a report for full year 2014 sales results for South Pasadena lofts, South Pasadena condos and South Pasadena townhomes see:
South Pasadena CA Condos Lofts Townhomes 2014 Real Estate Market Recap
Published: March 6, 2015
South Pasadena CA Lofts Condos Townhomes Market Recap 03.06.15
Comments(14)