Home Sales in South Pasadena 2016
This is a real estate market activity overview for sales of South Pasadena homes in 2016. Additionally, I will share a recap of sold properties for the previous three years as well as a recap of 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 which is known as South Pas by locals and admirers alike 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 and more modern homes in the hills, there are also some condos, townhomes and lofts to be found in the city. For this reason, it is not uncommon to see film trucks and crews around, as the city is often used as a backdrop in films, television, commercials, video and print as it earned its role as Anywhere, USA.
There were 135 mls-reported South Pasadena home sales in 2016. These closed transactions ranged from $652,500 to $4,230,000 with an average sales price of $1,341,690 (median price $1,231,500). Nearly 70% of the sales were at or above last list price.
In 2015, there were 136 mls-reported closed transactions. These sales ranged from $400,000(basically land value) to $4,400,000 with an average sales price of $1,344,314 (median price $1,147,500). Nearly 64% of 2015 transactions closed at or above their last list price.
In 2014, there were 127 sales ranging from $496,854 to $3,745,000 with an average price of $1,181,882(median $1,100,000).
There are currently just twelve South Pasadena homes for sale with an additional five in escrow. A year ago while compiling information for this report, there were 15 properties on the market for sale, interestingly enough the same number as in 2015.
As always, when reviewing statistics a closer review of an individual property is necessary for a prospective buyer who is crafting the best possible offer strategy. This is true, as well, for the homeowner who is considering the appropriate list price and marketing agent. As this report shows, a distinct majority of the closed sales in 2016 were at or above list price further underscoring the still very competitive South Pasadena real estate market.
Location within the city as well as condition, updates(or lack thereof), timing and emotional appeal are just some of the factors we will consider in addition to home and lot size(including the usability of that lot).
The South Pasadena real estate history has long reflected that the numbers available at any given time are typically limited and homes receive a lot of attention when they initially hit the market.
It is not uncommon to find buyers who have “lost” homes anxiously waiting for that first showing. The savviest of buyers will understand that there will be scheduled and published offer guidelines. Buyers and sellers alike need to be prepared in order to be most successful in achieving the desired goal.
If you would like to know more about South Pasadena real estate 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 in this very special market.
Published: January 17, 2017
Please note: The homes shown in this report are reflective of some of examples of fine architecture that can be found in the city and do not necessarily represent properties for sale or sold.
Home Sales in South Pasadena 2016