Free Market Analysis Condo Loft Townhome Living In South Pasadena

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Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://actvra.in/57wK

Condo Loft Townhome Living In South Pasadena

Free Market Analysis

 

What Is My Condo Loft Townhome In South Pasadena Worth?  

Living In South Pas - Small Town Appeal But City Convenient

FREE MARKET ANALYSIS

 

What Is My Mission Meridian Village Condo in South Pasadena Worth

 

This is a real estate market activity report for the market segment in South Pasadena which consists of condos, lofts and townhomes.   In this report, I will share information regarding properties currently for sale, in escrow and sold in September as well as the first nine months of 2017.  Additionally, I will share the same sales results for those periods in the previous three years.   

 

Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all sales in the category. While the information is deemed reliable, it has not been verified and is not guaranteed.

 

South Pasadena Condos and Townhomes

 

South Pasadena has a small town charm where you find tree-lined streets with character homes as well as more modern homes with views in the hills.  While the number is more limited, there are also condos, lofts and townhomes in the city.   This option may work well for those who may be looking for a more maintenance-free lifestyle and as one might expect generally lower in price.  Operative word - generally as South Pasadena is not an inexpensive place to live but practically a bargain compared to some West Los Angeles neighborhoods.   

 

South Pasadena is a separate city located in the West San Gabriel Valley of Los Angeles County and not part of its neighbor, the city of Pasadena.  South Pas as it is known by residents and fans alike is often a stand in for films, television shows and advertising of all kinds with its close resemblance to Small Town America as long as the palm trees are kept away(or the power of photoshop, I guess).  The school district is well-regarded and the library is a popular destination for the community.  Many small independently owned businesses and restaurants in and near Mission Street further enhance the neighborhood feel.    

 

The city is quite convenient to the Arroyo Seco Parkway(110) as well as other freeways and a Gold Line light rail station at Mission and Meridian which is also the home to the weekly Farmers Market held each Thursday.

 

South Pasadena Condos For Sale

 

September Results:

 

  • There are currently just two properties in the category on the market for sale.  A two bedroom/two bath condo with approximately 1006 square feet in the Raymond Hill neighborhood is offered for $570,000.   A four bedroom townhome with attached garage and approximately 1912 square feet is on the market for $950,000.

 

  • There are currently four units in escrow.  In September 2017, there were seven mls-reported closed sales ranging from $537,000 to $1,390,000 with an average sales price of $982,429(median sales price $1,030,000).  They sold at 98.46% of last list price and for $620.05 per square foot on average for the month.  

 

  • There were three mls-reported sales in September 2016 ranging from $427,000 to $710,000.

 

  • September 2015 was a good month with seven closed transactions reported.  These sales ranged from $405,000 to $785,000.

 

  • During September 2014, there were two sales.  One was a condo which sold for $500,000(list price $469,000) and the other other a townhome selling at $715,000(list $699,000).

 

 

Ostrich Farm Lofts in South Pasadena

 

Recap from January Through September:

 

  • There were 49 mls-reported closed transactions in the first nine months of this year.  These sales ranged from $420,000 to $1,425,000 with an average sales price of $812,496(median $810,000).   Over 75% have sold at or above their last list price for an average 100.82% for the first three quarters of the year.   The average price per square foot stands at $572.81 for the period.

 

  • In the same period in 2016 there were 45 closed sales reported ranging from $385,000 to $905,000 with an average price of $634,685(median $605,000).   They sold at 102.37% of last list price with more than 86% selling at or above the last list price.   The average was $479.81 per square foot.  

 

  • There were 41 transactions January through September 2015 ranging from $325,000 to $902,000 with an average of $566,610(median $523,500).  They sold at 100.35% of last list price and for $460.36 per square foot on average.

 

  • During 2014, there were 32 sales in the same nine month period ranging from $307,000 to $815,000 with an average price of $542,333(median $520,000). They sold at 101.44% of last list price and for $427.73 per square foot on average.

 

Condo Living Near The Gold Line Station in South Pasadena

 

It should be noted that the 38 unit development of flats, townhomes and condos at 820 Mission Street that opened in 2016 has had an impact on the increase in average/median sales prices in the city as well as units sold. Although not all are a part of the local multiple listing service, the prices in the project has had an impact on the overall sale prices.  It is now in its close-out stage with only one reflected as part of our mls statistics(in escrow).

 

What Is My Condo Loft Townhome In South Pasadena Worth?

FREE MARKET ANALYSIS

 

Obviously, this report is merely a snapshot look at properties on the market or for sale(and sold) in a particular given time frame.  Looking at nine months versus one month is a better indication of the market.  The South Pas market still favors sellers and buyers should expect that multiple offers that are well-priced and well-presented.     There are many nuances of the market and analysis of individual sales need to be carefully analyzed.   

 

What is my Monterey Townhome in South Pasadena Worth Today

In the condo - loft - townhome segment of the market not only does the location of a complex within the city make a difference but the location within that complex.  Other factors that should be considered include condition, updates(or lack thereof), emotional appeal and timing.   It should be noted that inventory in this market segment of South Pasadena condos, lofts and townhomes remains low.  

 

While multiple offers and sales over list prices remain common, sellers should be mindful of proper pricing and presentation as today’s buyers remain quite savvy as to market conditions.    Buyers, as always, need to be able to respond quickly to new listings as well as price reductions(yes, they still occur at times in an active market).    

 

To know  more about South Pasadena real estate I can be reached at 818.516.4393 cell.   I look forward to discussing what is important to you.

 

Published:   October 9, 2017

 

Condo Loft Townhome Living In South Pasadena

Free Market Analysis

 

 

 

 

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Rainmaker
3,777,831
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Michael.  Those looking for a South Pasadena condo, loft or townhome, should give you a call.

Oct 09, 2017 05:09 AM #1
Rainmaker
3,095,601
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Michael Jacobs ,

Love the snapshot of living in South Pasadena in a condo, loft or townhome! Lower maintenance, location and ease of living is definitely what buyers look for and need to give you a call for guidance.

Oct 09, 2017 05:21 AM #2
Rainmaker
271,063
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Michael Jacobs buyes will love this information when purchasing a condo or townhome.  Happy Columbus Day. 

Oct 09, 2017 05:37 AM #3
Rainmaker
1,340,234
Lise Howe
Long and Foster - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

clearly anyone who is thinking of buying or selling a condo in Pasadena should call Michael Jacobs 

Oct 09, 2017 06:29 AM #4
Rainmaker
665,492
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Michael Jacobs - Those looking for homes in and around Pasadena need to ask you about options like South Pasadena - condos, townhomes and Loft living as well.  I doubt many realize how close SoPas is to LA and is so centrally located to the San Fernando and San Gabriel valleys that it is a fabulous option that you can help clients navigate through to find their best option. 

Oct 09, 2017 07:15 AM #5
Rainmaker
2,579,439
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

If you own a Loft condo in the Pasadena area, the best way to get it SOLD is to call and work with Michael Jacobs!

Oct 09, 2017 08:07 AM #6
Rainmaker
4,109,615
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Families moving to the area will love your local community reports.

Oct 09, 2017 08:51 AM #7
Rainmaker
1,842,663
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

It's nice to see that they are still building newer condos and lofts in South Pas, but some of the older properties certainly seem to have more character. I guess this way you can attract as buyers not only the Baby Boomers but also the Millennials.

Oct 09, 2017 08:53 AM #8
Rainmaker
3,280,839
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Michae,

What a great profile of the South Pasadena market place. If someone is thinking of selling or buying in South Pasadena, they should contact you for great service and expertise.  A

Oct 09, 2017 09:00 AM #9
Rainmaker
1,623,885
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Wow, something so valuable and it is free!!!  Your phone should definitely be ringing off the hook from people wanting a market analysis of their homes in South Pasadena!

Oct 09, 2017 10:54 AM #10
Rainmaker
1,508,403
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Michael Jacobs - There are so many things I have come to know and like about Pasadena and it's all because of you.

  1. I love the architecture and how all buildings seem to blend in with the landscaping so well.
  2. I love the quaintness and charm, I always think somebody important lives there; e.g., movie script writer, producer, author, doctor, teacher, philosopher, someone wise and wonderful.
  3. I would love to tour these homes - they seem so unique.
  4. I love that the area always sounds interesting.
  5. I love that even if something is old, it's updated, fresh and intriguing - something you just can't pass up because it's unique and just right!
Oct 09, 2017 12:20 PM #11
Ambassador
2,474,723
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Excellent market report. Buyers searching for the right home in South Pasadena need an advantage to overcome low inventory and competition from other buyers. There's no better advantage than having your market knowledge and expertise working on their behalf.

Oct 09, 2017 01:19 PM #12
Rainmaker
3,085,311
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Michael, condo living, single family, townhomes, all buyers looking for housing in Pasedena or So Pas should be giving you a call.

Oct 09, 2017 08:33 PM #13
Rainmaker
1,162,900
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Your Alexandria Virginia Real Estate Agent

Michael, another well researched and information filled market report. Condo, loft, or townhome living have a lot to offer. Low maintenance and convenient locations are what a lot of buyers are looking for. When it's time to start a home search in South Pasadena you are the agent to contact. 

Oct 10, 2017 04:44 AM #14
Rainmaker
3,126,805
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Michael

Your free market analysis for the condo lofts townhomes in South Pasadena California is a great community service.

Good luck and success.

Lou Ludwig

Oct 10, 2017 05:53 PM #15
Rainmaker
3,598,274
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You always provide good information about your housing market. Thank you for sharing.

Oct 11, 2017 03:42 AM #16
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Rainmaker
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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