As Temperatures Rise,
Pasadena Proves Hot Is Still Cool
More Than Just A Parade and a Football Game
Pasadena is a city in the San Gabriel Valley of Los Angeles County with an estimated population of 137,122. Although particularly well-known and associated with an event each January, the city is so much more than just a parade and a football game. Museums and culture. Institutions of higher education. Tree-lined streets with character homes rich in architectural details. Multiple shopping districts. Lots and lots of dining options. Abundant recreational opportunities. Entertainment too. Plus a convenient location with easy accessibility. Via multiple freeways and a light rail system, Pasadena is close to so much in Southern California. A fun and yes -- still very cool place to live, work and play.
The Heat Wave and It’s Not Even August Yet
Pasadena has an average high temperature of 78.4 degrees with August typically the highest at 91 degrees. This year there have been many days that are beating that high average. It's definitely time to chill with some frozen grapes.
Summer Sales
Single family homes are the dominant segment of the real estate market in Pasadena but because of the lack of affordability in much of Los Angeles County the homeownership percentage in the city is less than 50%.
Since June 20 -- the first day of Summer through July 30, 2016, there have been 152 sales of single family homes closed in Pasadena(according to our local multiple listing service). These sales ranged from $350,000 to $3,900,000 with a median sales price of $944,000. 91 of those sales were at or above last list price. There are currently 216 single family homes available for sale ranging from $350,000 to $14,980,000. An additional 122 are in escrow.
In the condo/townhome/loft segment of the Pasadena real estate market, there have been 89 sales in the June 20 through July 30, 2016 time period. These closed transactions range in price from $305,000 to $4,500,000 with a median sales price of $545,000 with 50 selling at or above the last price. There are currently 90 properties in this category for sale ranging from $299,999 to $3,000,000. An additional 70 are in escrow.
Pasadena is fairly well-developed -- it recently celebrated its 130th birthday as a city. There is not a lot of land for development of homes or large scale construction although you will see new condos and apartments being built as in-fill projects around the city. Home renovation, remodeling and expansion is common too.
And There’s Still So Much More To Come
This look at what is happening this Summer(so far) in Pasadena is courtesy of Michael Jacobs. If you are interested in learning more about the Crown of the Valley or any of the communities I serve in the West San Gabriel Valley or the NorthEast Foothill Communities of Los Angeles, I can be reached at 818.516.4393 cell. I look forward to learning what’s important to you.
Published: July 31, 2016
As Temperatures Rise,
Pasadena Proves Hot Is Still Cool
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