The Altos de Monterey Neighborhood in
South Pasadena
This is a real estate market activity report update for the Altos de Monterey neighborhood in South Pasadena. In this report I will share information regarding 
homes for sale, in escrow and closed sales for the first nine months of 2016. Additionally, there is a recap of transactions for the same January through
September time period for the previous two years. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood. Information is from sources deemed reliable but has not been verified and is not guaranteed.
Also known as The Altos, the neighborhood was first developed beginning in the 1960s. The hillside neighborhood is quite different than what is thought of as typically South Pasadena where homes rich in architectural character on tree-lined streets are quite common. Yes, the streets in this neighborhood still have trees but the architecture is generally much more modern. The setting is just south of Monterey Road and many of the custom or semi-custom homes have some incredible views. It should be noted that lot sizes may appear quite large(on paper) but often times, these are not always flat which while nice are not workable for everyone and is definitely a consideration when considering market price.
It is not uncommon to find original homeowners in the Altos de Monterey neighborhood and when these homes come on the market, they often provide 
wonderful opportunities to transform them into the 21st century as most have excellent floor plans with spacious rooms.
As is true in the rest of South Pasadena, there are well-regarded South Pasadena schools, unique shopping and dining and the weekly Farmers Market near the city’s Gold Line light rail station which in many ways symbolizes the small town community aspect that makes the city commonly known as South Pas so popular.
There are currently three homes for sale in the Altos de Monterey neighborhood. These properties range in price from $1,499,000 to $2,880,000 and there are three additional homes in escrow.
From January through September , 2016, there have been nine mls-reported closed transactions. These closed sales ranged in sales prices from $1,070,000 to $1,930,000 with an average price of $1,520,444(median sales price $1,581,000). Over 50% of these homes have sold at or above list price for an average 101.82% for the period. The average price per square foot stands at $629.27 for the first nine months of the year.
In the first nine months of 2015, there were ten sales reported. These closed transactions ranged from $856,000 to $1,920,000 with an average sales price of $1,389,758(median $1,425,000). They sold at 106.66% of last list price and for $573.00 per square foot on average.
During the same time period in 2014, there were six closed sales ranging from $1,093,000 to $1,576,000 per our mls. The average sales price for the period was $1,477.483(median $1,561,500). They sold at 106.72% of last list price and for $635.63 per square foot on average.
Since the size and condition of homes varies greatly, a more detailed look at a particular home is recommended in order to arrive at the most appropriate listing price or to develop the best possible offer strategy. If you would like to know more about the Altos de Monterey neighborhood or any South Pasadena real estate whether you are a prospective buyer or seller contact me at 818.516.4393 cell. Let’s discuss what is important to you.
Published: October 23, 2016
The Altos de Monterey Neighborhood in
South Pasadena
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