Washington Square Landmark District in Pasadena
First Quarter 2017 Market Report
This is a look at real estate market activity for the the Washington Square Landmark District in Pasadena. was formed in 2003. The district is comprised of approximately 250 homes primarily built between 1910 and 1940 and was formed in 2003. n a variety of architectural styles on tree-lined 
streets. In this report, I will share information regarding homes available for sale, in escrow and sold in the first quarter of 2016 with a comparison to the same three month period for the previous three years. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood.
There are a variety of architectural styles that can be seen on the tree-lined streets. The district’s borders are Mountain Avenue(south), El Molino
Avenue(east side of street only as the western boundary), Washington
Boulevard(north) and Hudson Avenue(east).
Since Washington Square has been established as a historic Pasadena district, 
qualifying properties may be eligible for significant property tax savings. Typically, turnover of homes in this small neighborhood has been quite low.
The neighborhood is home to the 5.22 acre Washington Park
plants and trees. The park includes areas for picnics and a playground as well as tennis, basketball, handball and baseball. There is also a parking lot.
There are currently no properties on the market for sale in the multiple listing service. A recent March listing came on the market(on El Molino) and was in escrow very quickly and a home on Hudson that has been in and out escrow over the last year now shows as pending. There was one mls-reported sale in the first quarter of 2017. It was a major fixer(a duplex transformed into a three bedroom home with approximately 1587 square feet sold for $550,000(original list price $649,900) in an all-cash transaction.
In the first quarter of 2016, there have been four mls-reported closed transactions. These sales ranged from $480,000 to $665,000 with an average sales price of $575,000(median $577,500). They sold at an average 97.30% of last list price and for a $506.54 price per square of for the three month period.
During the same January through March time period in 2015, there was one sale. It was a circa 1927 bungalow with three bedrooms, two baths and approximately 1414 square feet which sold for its list price of $639,000 in March of that year.
During the same three month period in 2014, there were no mls-reported transactions.
As with any numbers, a more detailed look is advised in order to arrive at an appropriate listing price for sellers and as a strategy for buyers considering an offer. There are many factors that come into play when evaluating pricing especially in a historic area.
The size of the homes vary so dollars per square comparisons need to be carefully reviewed as well as condition, quality of updates(if any), location in the neighborhood and emotional appeal. And
then there is the occasional anomaly such as the first quarter 2017 home sale I mentioned earlier -- it just doesn’t make sense. For a look at the bigger 
picture, you may want to take a look at my year-end sales report for the neighborhood which can be viewed by clicking here.
If you would like to know more about Washington Square or any Pasadena real estate, let’s discuss what is important to you. Whether you are a prospective buyer or a homeowner thinking of selling, there are many strategies I use in order for you to achieve success. I can be reached at 818.516.4393 cell.
Published: April 17, 2017
Washington Square Landmark District in Pasadena
First Quarter 2017 Market Report
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