What Sold in Pasadena Bungalow Heaven Neighborhood in 2016?

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

What Sold in Pasadena Bungalow Heaven Neighborhood in 2016?

 

This is a real estate market activity report of homes sold in 2016 in the Bungalow Heaven Landmark District neighborhood in Pasadena. Homes in Bungalow Heaven PasadenaAdditionally,  I am sharing sales for the previous four years along with homes currently on the market for sale and in escrow.  

 

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

 

Bungalow Heaven Landmark District Established in 1989 as the city’s first historic landmark district, the boundaries are roughly Orange Grove and Washington boulevards south/north and Lake and Hill avenues west/east.  

 

While many architectural styles exist in Bungalow Heaven, the overwhelming majority of the approximately 900 homes are bungalows from the Arts and Crafts period or Craftsman era from the early 20th century.  Like many Pasadena neighborhoods, you will not find cookie cutter homes.   They vary greatly in size and condition here, from quite small to much larger as well as fixer-uppers to incredibly and authentically restored.  

 

Bungalow Heaven Historic Homes In PasadenaThe streets are tree-lined with McDonald Park near the center of the community. Nation-wide acclaim has been bestowed on the community which has been designated as a National Register of Historic Places and California Register of Historic Resources.   The annual Bungalow Heaven home tour each Spring is one the most popular events in the area.   

 

Pasadena Bungalow Heaven Neighborhood

 

Located just north of the Foothill(210)Freeway and the Gold Line Lake Avenue light rail station, the neighborhood  is convenient to many shopping, dining, culture, entertainment, higher education and recreation opportunities in Pasadena and beyond.

 

  • There were 38 mls-reported closed transactions in 2016 ranging in sale prices from $385,000 to $1,230,000 with an average price of $789,711 (median sales price $785,000).   Over 60% of those sales were at or above last list price for an average 101.24% and $537.70 per square foot for the year.   

 

  • You may wonder about a home in this neighborhood selling at $385,000.  It was a one bedroom home with approximately 432 square feet on a lot which public records reflect at just a bit over 3000 square feet.  A fixer, it sold to an investor in an all-cash transaction in November.  



  • For full year 2015, there were 36 closed sales ranging from $375,000 to $1,150,000 with an average sales price of $738,306(median $830,000).  They sold at 102.91% of last list price and for $525.48 per square foot on average.   

 

  • In 2014, 28 homes sold ranging from $338,000 to $970,000 with an average price of $633,518(median $640,500).   They sold at 103.05% of last list price and for $463.48 per square foot on average.  

 

  • 2013 saw 41 sales ranging from $355,000 to $910,000 with an average price of $622,000(median $652,000).  They sold at 99.53% of last list price and for $413.26 per square foot.  

 

  • In 2012, there were 32 Bungalow Heaven sales.  They ranged from $152,475 to $800,000 with an average price of $496,932(median $504,000).  They sold at an average 99.17% of last list price and for $370.31 per square foot on average.

 

  • There is currently just one Bungalow Heaven home for sale. This is a re-imagined circa 1916 bungalow with approximately 1721 square feet that is currently being offered for $945,000.  It previously sold in 2015 as a smaller(approximately 1220 square feet)fixer for $620,000. There are two other homes in escrow.   

 

McDonald Park in Bungalow Heaven neighborhood in Pasadena

 

The low inventory of available homes for sale in Bungalow Heaven continues to be an issue for buyers.  Multiple offers and sales over list price are still evident in many of the homes that are priced appropriately, presented well and are easily available to be shown.  

 

Obviously selecting the most appropriate list price will require a careful analysis of recent history of comparable properties with a review of updates(or lack thereof), condition, emotional appeal as well as other factors. This is true for those looking to purchase as well.   

 

Whether you are a prospective buyer or a homeowner thinking of selling in Bungalow Heaven or anywhere in Pasadena contact me at 818.516.4393 cell.

 

 

 

Published:  January 15, 2016

 

What Sold in Pasadena Bungalow Heaven Neighborhood in 2016?

 

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Rainmaker
61,031
Amy Kramer
Reilly Realtors - Austin, TX
Realtor serving Austin and surrounding communities

Love this overview of home sales in your area (which by the way has a Heavenly name).  It seems like a beautiful area.  Thanks for sharing Michael Jacobs.

Jan 15, 2017 12:23 PM #1
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Michael Jacobs  I adore the name of this area Bungalow-Heaven .  Buyers should hurry to call you if they are interested  to live in this area of Heaven . With one expanded home on the market I would assume time is of the essence

Jan 15, 2017 01:38 PM #2
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Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 Another outstanding market report  for the Bungalo Heaven  landmark district  area Michael Jacobs

Jan 15, 2017 01:43 PM #3
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

Great report on one of my favorite areas that your report on.  Who would not want to go to heaven, let alone Bungalow-Heaven, and with you as the guide whether one is buying or selling, it would be a heavenly experience...A

Jan 15, 2017 02:21 PM #4
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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

I'm on the same bus with Alexandra. Let's go to Bungalow Heaven with Michael Jacobs at the wheel. 

Jan 15, 2017 03:09 PM #5
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 - An excellent real estate market report for the Pasadena Bungalow Heaven neighborhood!  What a classic style that home buyers have loved over the years!  I hope bungalow home buyers call you first!  You are the agent in the know!

Jan 15, 2017 03:48 PM #6
Rainmaker
2,783,632
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

Charming, charming, charming is the perfect way to describe Pasadena Bungalow Heaven neighborhoods!

Jan 16, 2017 05:25 AM #7
Rainmaker
3,442,048
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, great market update for the neighborhood, and Bungalow Heaven sounds like a perfect name! 

Jan 16, 2017 05:48 AM #8
Rainmaker
2,830,643
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 for this update of homes sold in the Bungalow Heaven Landmark District in Pasadena.  

Jan 16, 2017 09:02 AM #9
Rainmaker
1,675,134
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

If I were buying a home, I'd want to know as much as I could upfront without wasting my time. You always report factual findings that interest me. I'm sure, others feel the same. Your passion for marketing and selling Real Estate is admirable. If every agent put forth the time and effort you do to attract the right buyers for the right properties, a lot of time would be put to better use. 

You truly are a Role Model!

Jan 16, 2017 10:15 AM #10
Rainmaker
2,830,643
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Patricia Feager - thank you for your very kind comment.  I appreciate the support.  

Jan 16, 2017 10:19 AM #11
Rainmaker
773,561
Joanna Cohlan
Fresh Eyes For Your Home - Chappaqua, NY
Designing, Decorating & Staging Westchester Homes

OMG, all I want is a bungalow in my life-they are fabulous  And thank you for bringing this to us Michael-your reports are incredible!

Jan 17, 2017 04:46 PM #12
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

Michael~ every single one of these speaks to me! There is something about the craftsmanship and the word "bungalow" that charms me completely. Obviously, I am not alone! What a great place to call home. Truly. And you do us proud with these interesting "reports" (I'm not even sure that ought to be the word in the way that you approach these).

Jan 18, 2017 10:10 AM #13
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Gayle Rich-Boxman Fishhawk Lake Real Estate
John L Scott Market Center - Birkenfeld, OR
"Your Local Expert!" 503-755-2905

I looked up the origin of the word bungalow: 

The term originated in India, deriving from the Gujarati બંગલો baṅgalo, meaning "Bengali" and used elliptically for a "house in the Bengal style".[1] This Asian architectural form and design originated in the countryside of Bengal region in South Asia.

Who knew?

Jan 18, 2017 10:11 AM #14
Rainmaker
2,830,643
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Gayle Rich-Boxman Fishhawk Lake Realtor (503)755-2905 - the Asian connection to the Arts and Crafts movement makes a lot of sense to me.   The function - the materials - the livability ---- lots of common themes.

Thank you for your thoughtful commenting.  

 

Jan 18, 2017 11:00 AM #15
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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