What Sold in Pasadena San Rafael Neighborhood in 2016?
This is a real estate market activity report for the San Rafael neighborhood of Pasadena. In this report I will share information about homes sold in 2016 with a comparison sales in the previous three years. Additionally there is a
recap of homes currently on the market 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.
For this report, I am using the following boundaries for San Rafael: South of the Ventura Freeway(134), the Arroyo Seco to the East and the Los Angeles city border to the South and West. The neighborhood is part of Pasadena zip code 91105.
The single homes in the San Rafael neighborhood range in size from smaller cottages to much larger homes. There are homes in the hills which offer beautiful views. Many of the leafy tree-lined streets meander as you discover architecture ranging from those rich in character to mid-century ranch-style homes to strikingly modern. The grand and often gated estates along South San Rafael Avenue overlooking the Arroyo Seco are some of the finest in Southern California in my opinion. I believe some of the appeal of this neighborhood can be attributed to its easy accessibility to multiple freeways. And of course, it’s a particularly idyllic place. It is a short distance via the Colorado Street Bridge to Old Pasadena with its abundant shopping, dining, entertainment and cultural options. The Rose Bowl along with Kidspace Museum, Pasadena Aquatic Center and two golf courses are convenient to the neighborhood.
In 2016, there were 68 mls-reported sales ranging from $625,000 to $4,962,924 with an average sales price of $1,346,036(median sales price $1,055,000). Over 55% sold at or above last list price for an average 99.98% and for an average price per square foot of $654.62 for the year.
In 2015, there were 72 sales reported ranging from $685,000 to $4,750,000 with an average price of $1,326,034(median $1,04,500). They sold at 100.01% of last list price and for an average price per square foot of $601,36 for the year.
2014 saw 73 closed transactions which ranged from $570,000 to $5,585,000 with an average sales price of $1,193,174(median $998,000). They sold at 100.26% of last list price and for $555.72 per square foot on average.
In the January through December time period of 2013, there were 92 transactions ranging from $455,000 to $3,950,000 with an average price of $1,130,843(median $912,500). They sold at 99.04% of last list price and for $485,90.per square foot on average.
There are currently just eight homes on the market for sale in the San Rafael neighborhood ranging from $949,888 to $4,500,000 with another six in escrow.
There are differences both subtle and not-so-subtle in the neighborhood that require a more in-depth analysis than a report this brief. Inventory remains a challenge and multiple offers and homes selling in excess of list price is still evident but sellers need to be mindful that price reductions and longer days 
on the market are occurring too.
Buyers are quite savvy when it comes to value as they know and understand with the assistance of local real estate professionals the nuances of each neighborhood. This is especially crucial when a property first hits the market for sale -- this is when activity is likely to be most important.
The differences in value(perceived and otherwise) include location within the neighborhood, size of home and lot, condition, updates(and the lack thereof), emotional appeal, timing and more. If you would like more detailed information regarding San Rafael homes or any Pasadena real estate let’s discuss what is important to you. I can be reached at 818.516.4393 cell.
Published: January 23, 2016
What Sold in Pasadena San Rafael Neighborhood in 2016?
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