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Pasadena CA Millionaires Row Condos For Sale Market Update 5.5.15

By
Industry Observer CalDRE #01165532

Pasadena CA Millionaire’s Row Condos For Sale

Market Update 5.5.15

 

Pasadena Millionaires RowThis is a market update for the condos and townhomes along the South Orange Grove Boulevard corridor in Pasadena including those for sale, in escrow and sold so far in 2015.  The area is also known as Millionaire’s Row for the grand mansions which once lined the wide palm-lined street at the turn of the 20th century.   

 

Today the street and adjacent streets East of the Arroyo Seco features units in various complexes in a variety of architectural influences with extensive gardens and verdant green lawns.   All information in this report is from our local multiple listing service(mls) and may not include all transactions.   

 

Pasadena Tournament House - Tournament of RosesThe area lies between the Arroyo Seco Parkway(110) and the juncture of the Foothill(210) and Ventura(134) freeways and is convenient to the abundant shopping, dining, cultural, entertainment and recreation opportunities that have made Pasadena so popular.  

 

Each January, the street is the center of world-wide attention as Tournament of Roses headquarters, the Wrigley Mansion(Tournament House) hosts many New Year’s Day festivities near the start of the over five-mile long Rose Parade on nearby Colorado Boulevard.  

 

There are currently 15 condos and townhomes along Pasadena Millionaire’s Row ranging in price from $710,000 to $1,680,000 with an additional six properties in escrow.   In the first four months of 2015, there have been ten mls-reported closed transactions from $625,000 to $1,688,000 with an average sales price of $1,009,000(median sales price $1,069,000).  They have sold at 104% and for $485.90 per square foot on average.

 

South Orange Grove Boulevard Corridor Condos and Townhomes in PasadenaIn the same January through April time period in 2014, there were 15 closed sales according to mls statistics.  Those transactions ranged from $575,000 to $2,100,000 with an average price of $925,200(median $770,000). They sold at 99.43% of last list price and for $423.95 per square foot on average.  

 

The number of sales is down slightly this year to date while the number of units available for sale has increased by four from this report from last May.  I wouldn’t draw any conclusions as to full year predictions even if I could.    

 

South Orange Grove Boulevard Pasadena Condos and TownhomesWhat makes sense is to take a closer and more detailed look at an individual South Orange Grove Boulevard corridor condo or townhome whether you are a buyer considering a purchase or a homeowner thinking of selling. Some factors to consider:  the complex as well as where it is located within that complex, the size, single or multi-level, updates and more.  Add to that list, emotional appeal which is not always as clearly evident but remains an important nuance.  

 

Let’s discuss what’s important to you, I can be reached at 818.516.4393.

 

For a look at full year 2014 sales with a comparison to 2013 results check my report: Pasadena CA So Orange Grove Blvd Condos and Townhomes 2014 Market Recap

 

Published: May 5, 2015


Pasadena CA Millionaire’s Row Condos For Sale

Market Update 5.5.15

 

Posted by

Michael Jacobs

 

CalBRE # 01165532

P. O. Box 587

Pasadena, CA 91102

Call/Text:  818.516.4393

mtj916@gmail.com

 

 

Comments (34)

Kathy Streib
Cypress, TX
Home Stager/Redesign

Michael- I hope you have a large van because you're going to need that to chauffeur us around Millionaires Row.  

May 05, 2015 02:17 AM
Rebecca Gaujot, Realtor®
Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Michael, beautiful community and like the name..Millionaire's Row. Another excellent market report. Anyone looking to buy or sell real estate needs to definitely call Michael Jacobs, the expert Realtor in LA.

May 05, 2015 02:41 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

One of my favorite areas in Pasadena, and with 15 available, there is no doubt that in my mind that you should be the one to sell at least 1/2 of them.  A

May 05, 2015 05:37 AM
Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-739-3843

Michael, my mom LOVES those parades. I would love the architecture. Mum's the word on what the future holds--very smart of you not to try and guess.

 

May 05, 2015 05:53 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Michael...you really know your area better than any other real estate professional. Great report.

May 05, 2015 06:20 AM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

I really enjoying reading posts on  Pasadena California real estate  and the market . . . . You create very interesting picture of the market.

Good luck and success.

Lou Ludwig

May 05, 2015 07:47 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Thanks for the update!

May 05, 2015 11:19 AM
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

What a nice area of Pasadena Michael. Excellent photos and your description with the data gives people interested in Pasadena CA Millionaires Row Condos exactly what they need. There are 15 condos and townhomes. I'd contact Michael Jacobs while the mortgage rates still great.

May 05, 2015 11:27 AM
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Michael, what a great place to call home..Millionaires Row in Pasadena CA..If I was a buyer, I would definitely contact you as I know, I would be working with one of the best Realtors.

May 05, 2015 12:19 PM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Millionaire's Row of Condoe's look like a wonderful place to call home!

May 05, 2015 12:20 PM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I hope those who are looking to buy a condo in this location read your blog posts and know exactly who they are going to call when they are ready to buy( or sell).

May 05, 2015 04:56 PM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Michael. Definitely not the low rent district, you described some pretty amazing complexes. These units must be special, nice job with your report.

May 05, 2015 06:48 PM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

I want to live on Millionaire's Row and have a gardner and cabana boy too!

May 05, 2015 10:23 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Thanks very much to each of you for stopping by and your comments regarding this market update for the South Orange Grove Blvd corridor of condos and townhomes.  

The area, the amount of land and the buildings make for an impressive residential picture in Pasadena.  

May 06, 2015 01:11 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I love the name of this neighborhood and every time you write about it I think, yes I could definitely live there if someone would give me a home.

May 06, 2015 12:36 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Ahh   Michael Jacobs Palm tree lined streets add class ,beauty and charm .To me that is California . The gorgeous high manicured tree lined Palms Wow .Nothing as classy !  Pasadena-Ca-Millionaires-Row-Condos-for-sale-market-update-5-5-15 and another walk  beautiful about . You certainly know NE Pasadena Ca

May 06, 2015 12:43 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Thanks very much Debbie Reynolds and Hannah Williams --- I appreciate your support and comments.

May 07, 2015 12:47 PM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for your Millionaire’s Row market update. Your knowledge of the local market will benefit home sellers and home buyers.

May 08, 2015 01:57 AM
Kimo Stowell
HI Pro Realty LLC RB-21531 - Honolulu, HI
REALTOR Associate® RS-76763 - Honolulu Hawai'i

Aloha Michael, 

Sometimes when the "Millionaire Rows" of yesteryear take a turn through contemporaneous updates you get a obtuse reminder that money doesn't buy one happiness nor improve ones taste in design. From the examples you have shown, it appears you have spared us the lesson. I very much enjoy the mix of modern and traditional and it looks like the neighborhood has pulled it off well.

a hui hou,

May 08, 2015 09:51 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, definitely a neighborhood the regular Joe Buyer can't afford.  Simply beautiful! 

Oct 19, 2022 07:30 AM