Lofts Condos Townhomes Sales in South Pasadena 2016
This is a real estate market activity report for sales in the loft, condo and townhome segment in South Pasadena in 2016. Additionally, I will share a recap of sold units for the previous three years as well as information 
regarding those actively on the market for sale and in escrow.
Statistical information in this report is from our local multiple listing service(mls) and may not include all transactions in the category. Information is deemed reliable but it has not been verified and is not guaranteed.
South Pasadena 91030 is also known as South Pas by locals and admirers alike and has a population of about 25,000. It is a separate city and not part of its larger and better-known neighbor, Pasadena. Many are attracted to the city with its small town atmosphere, highly acclaimed public schools, more than 100 acres of parks and playgrounds, a popular public library along with small retailers and interesting restaurants. The weekly Farmers Market near the Gold Line light rail station at Mission and Meridian is a great gathering place each Thursday late afternoon/early evening.
The city is known for its character homes on tree-lined streets, modern homes in the hills as well as a more limited number of condos, townhomes and lofts to be found in the city.
There were 57 mls-reported sales in 2016. These closed transactions ranged from $385,000 to $1,625,000 with an average sales price of $649,372 (median price $605,000). Over 85% of the sales were at or above last list price for an average 102.18% and an average price per square foot of $487.28 for the year.
In 2015, there were 59 closed transactions reported. The sales ranged from $325,000 to $945,000 with an average sales price of $573,836(median $523,500). They sold at an average 100.47% of last list price and for $463.12 per square foot on average.
In the same January through December time period in 2014, there were 53 sales ranging from $307,000 to $858,000 with an average price of $577,161(median $534,000). They sold at 100.77% of last list price and for $433.26 per square foot on average.
In the same period in 2013, there were 59 closed sales. The transactions ranged from $285,000 to $838,000 with an average sales price of $507,936(median $475,000). They sold at 100.61% of last list price and for an average price per square foot of $397.70.
There are currently eight properties available for sale ranging from $489,000 to $1,150,000 with an additional twelve in escrow.
There is a new 38 unit development under construction on Mission Street. Many of these units are not reflected in the mls. One has shown up in the mls as a sale($1,625,000) and there are several that are in the active/in escrow classifications. The flats, townhomes and condos in the new complex have list prices from around $800,000 to $1,800,000.
As always, when reviewing statistics a closer look at an individual property 
and complex is necessary for a prospective buyer looking to purchase or a homeowner to consider when arriving at a list price. As you can see in this
report, a clear majority of the closed sales in 2016 were at or above list price further underscoring the competitive South Pas real estate market.
When reviewing more details, we will analyze the individual unit, the complex, location within the city and within the complex as well as other factors including updates(or lack thereof), condition, timing and emotional appeal. History has shown that the numbers available at any given time are typically limited.
If you would like to know more contact me at 818.516.4393 cell. Let’s discuss what’s important to you whether you are a buyer thinking of a purchase or a property owner considering selling.
Published: January 16, 2017
Lofts Condos Townhomes Sales in South Pasadena 2016
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