Condos and Lofts in Old Pasadena Market Activity Report 2016

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://activerain.com/droplet/4YzL

Condos and Lofts in Old Pasadena

Market Activity Report 2016



This is a real estate market activity report for the condos and lofts in the Old Pasadena district.   In this report I will share a recap of units sold in 2016 Historic Castle Green in Old Pasadenaalong with a comparison to the previous two years.  I am also including information regarding units for sale and in escrow.  

 

Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood.  

 

Old Pasadena offers a more urban lifestyle within steps of well-known stores and unique boutiques, more than 100 restaurants, cafes and intimate bistros along its 22 historic blocks and alleyways.  Entertainment and cultural I Want to Live in Old Pasadenaoptions are abundant as well. There is a Gold Line light rail station at Memorial Park and access to the Foothill(210) and Ventura(134) freeways plus the Arroyo Seco Parkway(110) is nearby.

 

For purposes of this report, I am using the following boundaries to identify Old Pasadena:  Walnut Avenue, Arroyo Parkway, Del Mar Boulevard and Pasadena Avenue.  Selection at any given time for units to buy is limited as apartments available(many of them newer construction) for lease are more common.   Please note:  this report does not include the condominiums and townhomes under construction or newer construction adjacent to this area at Ambassador Gardens.

 

Boston Centennial Lofts in Old Pasadena  

 

Choices in Old Pasadena range from a 19th century historic building to 21st century luxury condos.  Condominium and loft complexes include:  Pasadena Place(159 West Green), Castle Green(99 South Raymond), 80 North Raymond, Raymond Renaissance(125 North Raymond), Boston Centennial(35 North Raymond), De Lacey at Green(111 South De Lacey), DeLacey Place(250 South Delacey) and Library Lofts(50 West Dayton).

 

Pasadena Place Condos in Old Pasadena

 

  • 2016 proved to be a very active year for condo and loft sales in Old Pasadena with 20 mls-reported closed sales.  These sales ranged from $598,000 t0 $1,438,800 with an average sales price of $869,790(median sales price $762,500).   Twelve units or 60% of those transactions were at or above last list price for an average 99.34% for the year.   During 2016, the average price per square foot for sales was $582.63.   

 

  • There is currently just one unit for sale in Old Pasadena.  An approximate 930 square foot loft in the Boston Centennial building is offered at $595,000.   A unit at the historic Castle Green and a condo at Raymond Renaissance are in escrow.

 

  • Sales were good in 2015 as well with 16 sales reported for the year. Ranging in sold prices from $420,000 to $1,195,000, the average was $661,334(median $632,500).   They sold at 99.46% on average price with 62.5% selling at or above their last list price.  

 

  • In 2014, there were twelve closed sales reported ranging from $340,000 to $1,250,000 with an average price of $674,750(median $645,000). They sold at 99.67% of last list price and for $571.71 per square foot on average.  

 

The Raymond Renaissance in Old Pasadena

 

Since each condo or loft building in Old Pas is quite different, a more detailed analysis is important when deciding on the most appropriate asking price to attract the greatest attention while maximizing net proceeds when you are a Library Lofts at 50 West Dayton Street in Old Pasadenaproperty owner thinking of selling.  This is true as well when I am working with a prospective buyer in crafting a winning offer strategy.  Even with the same building, there are nuances to consider such as location within the building, updates(or the lack thereof), emotional appeal, motivation and timing among other factors.

 

If living in a vibrant neighborhood sounds like the right fit for you, Old Pasadena may be a good choice and if you are looking for something different, I know the neighborhoods of Pasadena.  I can assist you in finding the ideal match when purchasing or maximizing your net proceeds if you are considering selling. Let’s discuss what is important to you, contact me at 818.516.4393 cell.  

 

Published:  January 6, 2017

 

Condos and Lofts in Old Pasadena

Market Activity Report 2016

 

 

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Rainmaker
835,229
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Michael Jacobs - One of my favorite places to visit when visiting Pasadena was Old Town. Your clients appreciate your local knowledge and that is why they flock to you!

Jan 06, 2017 05:07 AM #1
Rainmaker
1,887,252
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Being walking distance to a lot of the things one would need to do on a daily basis is a huge benefit, I can definitely see the appeal for Old Pasadena!

Jan 06, 2017 05:07 AM #2
Rainmaker
2,567,058
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Michael. It pays to have an active experienced agent familiar with the history of the area to make the proper choice! You would be mine! Enjoy your day!

Jan 06, 2017 05:11 AM #3
Rainmaker
2,785,904
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

The Old Pasadena real estate market is such a nice looking area with many varieties of living accommodations!

Jan 06, 2017 08:09 AM #4
Ambassador
2,289,054
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Lofts are all the rage these days.  What a fun environment to call home.  Great look into the real estate market in your area.

Jan 06, 2017 08:54 AM #5
Rainmaker
1,294,263
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Michael, the walk-ability of Old Town Pasadena must be such a big selling point. It looks like such a great place to make home. When buyers are ready to learn more all they need to do is contact you. You know the market and all of it's latest trends.

Jan 06, 2017 09:09 AM #6
Rainmaker
1,281,974
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Such a beautiful area Michael...and a great informative post. To me, it is amazing how little is available. Tough for buyers who need your guidance!

Jan 06, 2017 10:08 AM #7
Rainmaker
773,561
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

Looks like these properties run the gamut Michael-from older to more contemporary buildings and a range of prices-your market report makes people understand that if they want to move to your gorgeous area, there is something for everyone!

Jan 06, 2017 11:16 AM #8
Ambassador
3,237,480
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Michael- I love this report on the condos and lofts in Old Pasadena.  It looks like a very interesting area with a lot to offer residents!  

Jan 06, 2017 11:28 AM #9
Rainmaker
1,964,153
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Hi Michael: I think if I were looking for a condo or loft in Pasadena, I would prefer the area you have described as Old Pasadena. I like the urban feel, the abiity to work to things, to feel connected to the pulse and energy of the city. I would probably choose an older building, too, just for its historical structure.

Jan 06, 2017 12:45 PM #10
Ambassador
2,608,289
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Excellent market report. If I were to move to LA, I'd certainly be interested in Old Pasadena, and I would rely on your amazing market expertise to help me find the perfect place.

Jan 06, 2017 01:34 PM #11
Rainmaker
3,645,064
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael Jacobs when we were living in Los Angeles, we always enjoyed a jaunt to Old Towne Pasadena!  It has that special feel of friendliness and coziness with a big city nearby.  I can understand why there is one one unit available.  A

Jan 06, 2017 02:21 PM #12
Rainmaker
4,157,063
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good evening Michael.  When it comes to condos and lofts in the Old Pasadena district you are the local expert and the one to call.

Jan 06, 2017 05:06 PM #13
Rainmaker
3,232,175
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

Old Pasadena California is a great location to own a condo or loft.

Good luck and success.

Lou Ludwig

Jan 06, 2017 05:27 PM #14
Rainmaker
1,076,007
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

Michael Jacobs - Old Pasadena looks like a great place to own a loft or condo!  I hope anyone looking to buy, or sell will call you first!  

Jan 06, 2017 06:02 PM #15
Rainmaker
2,832,951
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Thank you very much for stopping by and your comments on the condo and loft segment of the Old Pasadena real estate market.   It may not be the right fit for everyone but those who like being in the center of a vibrant neighborhood, it's definitely worthy of consideration.  

Jan 07, 2017 11:54 AM #16
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Rainmaker
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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