Washington Square Pasadena Landmark District
Mid-Year 2017 Real Estate Market Update
This is a real estate market activity report for the Washington Square Landmark District in Pasadena. In this report, I will share information regarding activity in the first half of 2017 with a comparison of the same period in the previous four years. Statistical information in this report has 
been gathered from our local multiple listing service(mls) records and may not reflect all transactions in the community.
Established in 2003 as a Pasadena landmark district, the neighborhood is comprised of approximately 250 homes. The homes were generally built between 1910 and 1940 representing a variety of architectural styles on pretty tree-lined streets. The Northeast Pasadena location has relatively easy access to abundant shopping, dining, cultural, entertainment and recreational opportunities for residents and visitors alike.
The historic district’s boundaries are primarily north of Mountain Avenue, the east side of El Molino Avenue as the western border, south of Washington Boulevard and Hudson Avenue on the east. Since Washington Square has been established as a Pasadena landmark district, qualifying homes may be eligible for significant property tax credits.
Located in the northwest part of the neighborhood is the 5.2 acre Washington Park which was planted with an abundant variety of native California plants and trees. The park includes playground equipment, picnic areas as well as handball, tennis, baseball and basketball. There is a small parking lot off Washington Boulevard.
There were three mls-reported sales in the first six months of 2017. These transactions ranged from $550,000 to $858,888 with an average sales price of $689,629(median sales price $660,000). They sold at 96.77% and for $404.85 per square foot on average for the period. There are currently no homes in Washington Square for sale or in escrow.
In the first half of 2016, there were six reported sales. These closed transactions ranged from $480,000 to $665,000 with an average sales price of $592,333(median $621,500). They sold at 98.94% of last list price and for an average price per square foot of $528.56
From January through June 2015, there were five closed transactions reported ranging from $525,000 to $640,000 with an average price of $598,800(median $615,000). They sold at 106.13% of last list price and for $536.24 per square foot on average.
During the same six month time period in 2014, there were three transactions. These sales ranged from $549,000 to $643,000 with an average of $597,000(median $599,000). They sold at 101.99% of last list price and for $318.17 per square foot on average.
Inventory of homes in Washington Square for sale remains an issue. There are many people in Pasadena who are attracted to the character homes found here.
As is the case in many historic Pasadena neighborhoods, the condition of the homes can and do vary greatly so this has an obvious impact on prices. Inventory of properties for sale in this small neighborhood continues to be limited, so prospective buyers need to be well-prepared knowing that they may likely be competing in multiple offer situations. That said, prospective sellers need to be mindful of pricing and presentation when preparing their 
properties for sale. This is especially true when a home initially “hits” the maker as a “new listing”.
As is the case in any market report especially when the numbers are small, there is a need to look beyond the numbers. There are nuances that may not be readily apparent. For a homeowner who may be considering selling or for the prospective buyer looking to craft the best possible strategy to “win” it is beneficial to better understand the market and an individual property.
In addition to the size of the home and the lot, it’s important to look at location within the neighborhood, condition, quality of the updates(or lack thereof), emotional appeal and timing.
If you would like to know more about Washington Square or any Pasadena historic neighborhood whether you are thinking of buying or selling I welcome the opportunity to talk with you. I can be reached at 818.516.4393 cell. Let’s discuss what is important to you.
Published: July 15, 2017
Washington Square Pasadena Landmark District
Mid-Year 2017 Real Estate Market Update
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