Del Mar Court Condos in Pasadena
625 Del Mar Boulevard
This is a real estate market activity report for the Del Mar Court condominium complex in Pasadena. I will share information regarding units currently on the market sale, in escrow and sold so far in 2017 as well
as a recap of closed transactions for the previous four years. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not reflect all transactions in the complex.
Del Mar Court is located at 625 East Del Mar Boulevard at the northwest corner of El Molino Avenue in a central and convenient Pasadena location. Residents are close to South Lake Avenue, California Institute of Technology, Playhouse District, Paseo Colorado, Civic Center and Old Pasadena along with multiple freeways plus a Gold Line light rail station. There are abundant shopping, dining, entertainment and cultural options available.
Built in 1987, the 24 unit Del Mar Court consists of two bedroom/two bath condos in a variety of floor plans ranging in size from just over 1100 to nearly 1300 approximate square feet. Interior features include fireplaces, good storage and in-unit laundry connections. There is either a patio area or balcony. Parking is subterranean with two spaces per unit accessed off El Molino Avenue.
The entrance to the professionally managed complex is gated and there is a large central open courtyard with elevator access to each floor. There have been some updates occurring in the complex(lobby area and copper plumbing) that should increase livability and add value.
There is currently one condo at Del Mar Court available for sale. Newly listed, the second floor unit has approximately 1166 square feet and is priced at $498,000. No units are in escrow and there have been two mls-reported closed sales year-to-date. Both closed in March. A unit on the second floor with approximately 1146 square feet and an updated kitchen closed for $555,000(list price $498,000 in an all cash transaction. Later that month a top floor corner unit(also remodeled) closed for $575,000(list price $498,000).
There were two units reported sold at Del Mar Court in 2016. In July a corner unit on the second floor with approximately 1146 square feet sold for $490,000(list price $499,000). The other transaction closed in November. This was a probate sale(no court confirmation but needed work) on the third floor which sold for $529,000(list price $445,000).
There were three reported closed transactions in 2015 ranging from $418,000 to $444,000 with an average sales price of $429,000(median sales price $425,000). Two sold above the last list price for an average 99.92%. The average price per square foot for all units was $352.79.
In 2014, there were two sales. In April, a first floor corner unit closed for $425,000(list price $438,800). A unit with approximately 1276 square feet sold for $430,000(list $449,000) in September.
In 2013, there was just one closed transaction which was a third floor corner unit that had been previously purchased as a bank owned sale. The renovated unit sold in August of that year for $460,000(list price $439,000).
This report serves as an introduction and quick overview of the Del Mar Court complex. Different factors come into play when determining an offer strategy for buyers as well as determing the proper market position for sellers. Both need to review all information in greater detail than space permits in this brief sales recap. Location within the complex, condition, upgrades(or lack thereof), timing and emotional appeal all come into play. If you would like to know more about Del Mar Court or any Pasadena real estate, please contact me at 818.516.4393 cell. Let’s discuss what is important to you.
Published: May 19, 2017
Del Mar Court Condos in Pasadena
625 East Del Mar Boulevard