South Pasadena Homes for Sale and
Mid Year 2017 Market Report
This is a real estate market activity report for South Pasadena including homes for sale, in escrow and sold in the first six months of 2017. In addition, I will share a recap of sales for the same period for the previous 
three years. The statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the city.
South Pasadena is a separate city within the San Gabriel Valley of Los Angeles and not a part of the city of its better known neighbor, Pasadena. It is well-known locally as capturing the spirit of small town America with its tree-lined streets of character homes that often fills in for cities across the country for film, television and advertising.
Well-regarded schools, popular parks and recreation programs and a fine public library are a part of life in the city which residents and fans alike call “South Pas” . Discover unique shops and galleries, interesting dining options and the well-attended weekly Farmers Market near the Gold Line light rail station at Mission and Meridian further enhance the appeal. The convenient location is yet another draw for the city which makes commuting throughout Los Angeles just a bit better - again, relative would be the operative word here.
There are currently currently 21 South Pasadena homes for sale with about one third coming on the market within the last week. They range in price from $817,900 to $2,880,000. There are an additional twelve properties in escrow. From January through June, there were 62 homes sold in South Pas ranging from $700,000 to $3,200,000 according to mls reports. The average sales price was $1,429,347(median sales price $1,360,000). More than ⅔ sold at or above last list price for an average 104.70% and $667.96 per square foot.
In the first six months of 2016, there were 57 reported closed sales. These transactions ranged from $652,500 to $4,230,000 with an average price of $1,391,185(median $1,200,000). Almost ⅔ sold at or above last list price for an average 103.75% sale to last list price. The average price per square foot for the period is $619.96.
In the first half of 2015, there were 55 reported closed sales. These transactions ranged from $400,000 to $3,000,000 with an average of $1,253,608(median was the same as in 2016: $1,200,000). They sold at 102.6% of last list price and for $577.98 per square foot on average.
During the same January through June period in 2014, there were 59 reported sales. These transactions range in closed prices from $496,854 to $1,991,000 with an average sales price of $1,114,294 (median $1,053,000). They sold at an average 104.19% of last list price with an average price per square foot of $623.98
Inventory today is about the same as a year ago when I was collecting data for this mid-year update. Today, 21 versus 20 in 2016. The number of properties in escrow last year was a bit higher. Choice is a good thing, right? However, buyers should still expect a 
competitive market(multiple offers and sales over list price AKA "bidding wars" remain common) especially when it comes to the newest listings.
Sellers too should understand that the buyers who may have "lost" a home in one of those "bidding wars" will be viewing your home with a very discerning eye as to value and presentation. First impressions matter. Inventory of South Pasadena real estate for sale remains low as it has during the last few years which has resulted in many properties selling with multiple offers and often over list price.
Any market report is a mere snapshot look and more details are necessary when a prospective seller along with the right real estate representation chooses the marketing plan or a buyer develops the proper offer strategy. Looking at location within the city, condition, updates(or lack thereof), emotional appeal and timing all come into play along with other nuances too numerous to mention here.
Do you want to know more about South Pasadena real estate? Whether you are a homeowner thinking of selling, a prospective buyer or just curious, please feel free to contact me at 818.516.4393. Let’s discuss what is important to you.
Published: July 11, 2017
South Pasadena Homes for Sale and
Mid Year 2017 Market Report
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