Pasadena Washington Square Landmark District 2016 Market Update

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://activerain.com/droplet/4YF9

Pasadena Washington Square Landmark District

2016 Market Update

 

This is a real estate market activity report for the Washington Square Landmark District in Pasadena.  In this report, I will share a recap of sales for 2016 with a comparison to the previous four years.  Statistical information in Washington Square Historic Homes For Sale in Pasadenathis report has been gathered from our local multiple listing service(mls) records and may not reflect all transactions in the community.

 

Established in 2003 as the second such district in Pasadena, the neighborhood is comprised of approximately 250 homes.   The homes were generally built between 1910 and 1940 representing a variety of architectural styles on pretty tree-lined streets.  The Northeast Pasadena location has relatively easy access abundant shopping, dining, cultural, entertainment and recreational opportunities for residents and visitors alike.    

 

Historic Homes Close To Washington Park PasadenaThe historic district’s boundaries are primarily north of Mountain Avenue, the east side of El Molino Avenue as the western border, south of Washington Boulevard and Hudson Avenue on the east.   

 

Since Washington Square has been established as a Pasadena landmark district, qualifying homes may be eligible for significant property tax credits.

 

Located in the northwest part of the neighborhood is the 5.2 acre Washington Park which was planted with an abundant variety of native California plants and trees.  The park includes playground equipment, picnic areas as well as handball, tennis, baseball and basketball.  There is a small parking lot off Washington Boulevard.

 

 Pasadena Washington Square Homes For Sale Today

 

  • There were eight mls-reported sales in 2016 ranging from $480,000 to $675,000 with an average sales price of $608,000(median sales price $630,000).  They sold on average at 99.86% of last list price and for $521.14 per square foot.   Inventory remained a challenge in Washington Square and as of this report, there are no homes available for sale and none in escrow.

 

  • Sales activity was strong in 2015 with closed transactions reported.  They ranged from $525,000 to $775,000 with an average price of $632,500(median $639,500).  They sold at 107.92% of last list price and for an average sales price per square foot of $536.82.  Ten of those twelve transactions sold above list price.  Number eleven sold at list price.  

 

  • In 2014, there were just three sales ranging from $549,000 to $643,000 with an average price of $597,000(median $599,000).   They sold at 101.99% of last list price and for $318.17 per square foot on average.

 

  • There were five sales in 2013 which ranged from $428,000 to $650,000 with an average sales price of $500,100(median $470,000).  They sold at 101.7% of last list price and for $408.94 per square foot on average.  

 

  • Nine properties sold in 2012.  Ranging in sales price from $300,000 to $670,000 with an average price of $433,161(median $450,000).  Seven of those homes sold in excess of list price.


Pasadena Washington Square Homes

 

 

As previously stated, inventory of homes on the market for sale remains an issue for prospective buyers.   People in Pasadena are drawn to the character homes found here.     

 

As is the case in many historic Pasadena neighborhoods, the condition of the homes can and do vary greatly so this has an obvious impact on prices. Inventory of properties for sale in this small neighborhood continue to be limited, so prospective buyers need to be well-prepared knowing that they may be competing in multiple offer situation.   That said, prospective sellers Historic Homes in Pasadena Washington Squareeed to be mindful of pricing and presentation when preparing their properties for sale.  This is especially true when a home initially “hits” the maker as a “new listing”.   The nuances of a given market can be quite subtle.    

 

If you would like to know more about Washington Square or any Pasadena historic neighborhood whether you are thinking of buying or selling I suggest that you contact me.  I can be reached at 818.516.4393 cell.   Let’s discuss what is important to you.

 

Published:  January 9, 2017

 

Pasadena Washington Square Landmark District

2016 Market Update

 

 

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Rainmaker
1,814,989
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I love the look of a tree lined street.  If I were rich, I would have a tree lined street leading up to my home.  People might be disappointed when they get to it though, as it would likely be small, haha.

Jan 09, 2017 05:53 AM #3
Rainmaker
2,480,337
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

Good morning Michael.  It is indeed rare when an opportunity presents itself in Washington Square. Having a professional such as yourself in the buyer's corner can make a big difference! Enjoy your day!

Jan 09, 2017 05:59 AM #4
Rainmaker
3,825,063
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Jan 09, 2017 06:34 AM #5
Rainmaker
1,259,695
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

Michael, I can see why Washington Square is so popular. The curb appeal is impressive and so inviting on top of being in a great location. With no available inventory anyone considering selling should give you a call. Your market knowledge and expertise is exactly what they should be seeking in an agent.

Jan 09, 2017 07:04 AM #6
Rainmaker
3,541,727
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Washington Square is really lovely.  What an asset to have a large park as part of the neighborhood.  This is exactly the kind of neighborhood many would love, and of course, you are the perfect guide.  Even though there is no inventory at the moment, I am sure you can find them something similar in Pasadena.  A

Jan 09, 2017 07:43 AM #7
Ambassador
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Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

Being built between 1910 and 1940 - I bet these homes have lots of charm and character.  Great market update.

Jan 09, 2017 08:09 AM #8
Ambassador
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

You are simply the only agent to contact in your area. I echo the sentiments of Alexandra, I have confidence you can find buyers something similiar given the lack of invetnory. Happy Monday. D

Jan 09, 2017 11:02 AM #9
Rainmaker
2,786,111
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 this real estate update for the homes in the Washington Square Landmark District.  While it is true that inventory of homes available for sale has been challenging here, it is promising that Pasadena has many neighborhoods where historic homes can be found.   

For sellers, it is important to remember that today's buyers are quite savvy and that all-so-important first impression makes proper pricing and presentation crucial to a successful transaction.  

Jan 09, 2017 12:59 PM #10
Rainmaker
1,930,002
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

You know what surprises me about this, Michael, is Washington Square Landmark District seems so affordable. I expected these homes to sell on average for a million dollars. $480K to $675K for 2016 seems too low. Are the homes particularly small, like two bedrooms?

This neighborhood is comparable in character to the homes in Land Park in Sacramento, where I live. I can usually take our Sac prices and double them to hit your values for similar homes in Pasadena. The median in my neighborhood is probably $500K.

Jan 09, 2017 01:17 PM #11
Rainmaker
2,786,111
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents -- some of the homes in Washington Square are pretty small  and on smaller lots.   The $480,000 sale was one of such homes(apx 720 sq ft on the house and under 3600 SF lot) -- it was later flipped and offered in the low $600s and recently closed for $590,000 in an off-market transaction.   

Washington Square, I believe, is a bit under-the-radar with low turnover and the small size of the neighborhood.   You'll find higher prices in the adjacent Bungalow Heaven Historic District which has a lot of local and national recognition.     Thanks for your thoughtful comment.

Jan 09, 2017 01:36 PM #12
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Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Homeowners are hanging on to those Washington Square homes, so the best move for interested buyers is to work closely with you to keep an eye on availability - you're going to know first.

Jan 09, 2017 01:56 PM #13
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Really enjoyed reading about the market trends Michael Jacobs in Washington Sq. Landmark District  . It may be wise for buyers to be pre approved for financing and ready to go if they are interested in this area . A sit down  should be scheduled with you to discuss what is important to them either as a buyer or seller

Jan 09, 2017 02:28 PM #14
Rainmaker
1,339,844
Beth Atalay
Cam Realty and Property Management - Clermont, FL
Cam Realty of Clermont FL

Hi Michael, I can see why homeowners wouldn't want to leave this beautiful neighborhood, living near a park is a huge plus. Anyone looking to buy or sell a home is Washington Square Park in Pasadena CA would be wise to call you.

Jan 09, 2017 03:31 PM #15
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Michael- with inventory at a premium, buyers would be wise to contact you, the local expert!!!

Jan 09, 2017 04:44 PM #16
Rainmaker
2,523,551
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Michael, Imagine our business with inventory … I can barely remember what that is like. It is common for desirable areas/communities like the Washington Square Landmark District to have fewer sales and often no homes available for sale.  When one “hits” the market … buyers need you to guide them to make an offer that will get accepted. 

Jan 09, 2017 05:42 PM #17
Rainmaker
4,402,558
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Washington Square Landmark District home sellers will be in very good hands when they select you as their listing agent.

Jan 09, 2017 06:18 PM #18
Ambassador
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

This is another excellent report of Washington Square Landmark that shows you know the facts and are abreast of the market and the one to call.

Jan 09, 2017 06:38 PM #19
Rainmaker
3,229,316
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

The Washington Square Landmark District is a classic neighborhood in Pasadena California.

Good luck and success.

Lou Ludwig

Jan 09, 2017 07:48 PM #20
Rainmaker
4,053,952
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Michael.  Thanks for the information and update for the Washington Square Landmark District of Pasadena.

Jan 10, 2017 05:56 AM #21
Rainmaker
2,786,111
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Thank you very much for your comments on this update for the Washington Square neighborhood in Pasadena.  

Jan 10, 2017 07:20 AM #22
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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