Pasadena Bungalow Heaven Historic Homes For Sale and Market Update

This is a real estate market activity report for the Bungalow Heaven Historic Landmark District in Pasadena.  In this report I will share information regarding homes currently available for sale sale along with those in escrow and a summary of sales in the first nine months of 2016 with a recap of closed sales in the same period for the past two years.   All statistical information has been gathered from our local multiple listing service(mls) and may not reflect all transactions in the neighborhood.

Bungalow Heaven is the first historic landmark district in Pasadena.  The boundaries are between Washington and East Orange Grove boulevards on the north/south and Lake and Hill avenues west/east.   There are many architectural styles represented in the neighborhood but it is best known for its exceptional representation of the those built during the Arts and Crafts movement in the early 20th century.   The tree-lined streets consists of approximately 900 homes.  Here you find those that have been meticulously and carefully restored, some “in between” renovations and still others that are in need to some much needed tender loving care.   

• There are currently six Bungalow Heaven homes for sale ranging in price from $749,000 to $1,495,000 with an additional three properties in escrow.   From January through September, there have been 24 mls-reported sales in the historic Pasadena neighborhood.  The closed transactions range from $561,000 to $1,028,000 with an average sales price of $808,542(median sales price also $789,500).   Fifty percent of the reported sales were at or above list price with a 99.72% average for the period.  The price per square foot was $501.00 on average.

• In the same nine month period in 2015, there were 29 reported sales in Bungalow Heaven.  The transactions ranged from $509,000 to $1,150,000 with an average price of $754,914(median $747,500).   They sold at 103.29% of last list price and for $522.98 per square foot on average.  

• In 2014, there were 22 sales from January through December.   These sales ranged from $338,000 to $910,000 with an average price of $631,409 (median $642,500).  They sold at an average 103.42% of last list price and an average price per square foot of $469.93.

Overall inventory of homes for sale in Bungalow Heaven and throughout most of Pasadena continues to be a challenge for buyers.   Multiple offers are still common but sellers need to be mindful that proper pricing from the start is critical.  

The condition of homes(updates or the lack of) along with the sizes of both the homes and lots vary greatly here.  Style of home, location within the neighborhood, emotional appeal and many other factors are a part of the selling equation.   The
mix in sales is a factor when looking at any report as intentionally brief as this.  It is wise for a prospective buyer or homeowner thinking of selling to review a more in-depth analysis in order to have enough information to make a qualified decision prior to finalizing an offer strategy or determining the most appropriate list price.  

If you would like more detailed information regarding Bungalow Heaven or any Pasadena neighborhood, please contact me at 818.516.4393 cell.  I look forward to hearing what is important to you.  

Published:  October 20, 2016

Pasadena Bungalow Heaven Historic Homes For Sale and Market Update