Pasadena Prospect Park Area
Homes For Sale and Market Report
This a real estate market activity report for the Prospect Park area of Pasadena. I will share information of homes for sale, in escrow and closed transactions so far in 2016 with a look at full year sales 
for the previous three years. The Prospect Park Historic District consists of 106 single family homes but I have expanded the boundaries to include other architecturally significant properties adjacent to the district. Generally, the boundaries I have used for this report are east of the Arroyo Seco, west of North Orange Grove Boulevard, north of Holly Street, south of Westgate. Streets in the official National Register of Historical Places Inventory include: Prospect Boulevard/Square /Crescent/ Terrace, Rosemont Avenue, 
Armada and Fremont Drives and La Mesa Place.
Statistical information in this report has been gathered from our local multiple listing(mls) and may not include all sales activity in the area.
Impressive clinker brick accented entrances complement the tree-canopied streets which showcase the rich architecture of the residences. A veritable who’s who of Pasadena architectural heritage is represented. Frank Lloyd Wright. Charles and Henry 
Greene. Buff & Hensman. Albert and Alfred Heineman and others.
Located just north of Old Pasadena, Prospect Park is close to exceptional shopping, dining, entertainment and recreation. Numerous museums are nearby too. Some of the homes here overlook the Arroyo Seco, home to the world famous Rose Bowl, Kidspace Museum, Pasadena Aquatic Center and Brookside Golf Course. Transportation via multiple freeways is easily accessible.
There is currently just one home on the market for sale. It is a circa 1925 French Normandy Revival home on Armada Drive with approximately 3863 square feet listed at $2,535,000. A beautiful Mediterranean home on Prospect Boulevard is in escrow. A home on Bellmore Way(just outside the district, it is a circa 1929 Monterey Colonial) closed escrow in January for $1,750,000 in an all cash transaction(list price $1,895,000) according to mls statistics. Another home that came on the market in fourth quarter 2015 and quickly went under contract at the time has fallen out of escrow again and shows as off market as of this week.
For full year 2015, there were four mls-reported closed transactions ranging from $1,890,000 to $2,850,00 with an average sales price of $2,465,125(median price $2,560,250). They have sold at $675.98 per square foot and at 95.34% of last list price. One is Bentz House designed and built by the Greenes in 1906. Three of the four mls-reported sales occurred within the historic district boundaries.
One sale that was not reported in the mls in 2015 was the Millard House by Frank Lloyd Wright which is also known as La Miniatura. Originally built in 1923, the home boasts approximately 4230 square feet on nearly one acre of land. It sold for $3,650,000 in April -- it had been on/off the market for many years.
In 2014, there were seven closed transactions reported ranging from $1,010,000 to $3,528,113 with an average sales price of $2,320,873(median sales price $2,296,000). They sold at 102.18% of last list price and for $583.35 per square foot on average.
In 2013, there were six sales reported through the mls ranging from $1,095,000 to $2,100,000 with an average price of $1,613,211(median $1,627,134). They sold at 97.25% and for $437.58 per square foot on average.
In neighborhoods such as Prospect Park where the homes are unique - determining a list price for sellers or a purchase price for a prospective buyer will require more detailed research than in some other areas. Turnover of homes here has historically been low. Interested in knowing more about the historic homes of Pasadena contact me at 818.516.4393 cell.
Published: August 10, 2016
Pasadena Prospect Park Area
Homes For Sale and Market Report
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