Free Market Analysis What Is My South Pasadena Home Worth Today?

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

Free Market Analysis

What Is My South Pasadena Home Worth Today?

 

South Pasadena Real Estate Update

September and First Nine Months of 2017

What Is My South Pas Home Worth?

Small Town Charm Yet City Convenience

Free Market Analysis

 

Historic Homes In South Pasadena Close to Shopping

 

 

 

This is a look at real estate activity in South Pasadena, California for the month of September as well as the first nine months of 2017 for the single-family home segment of the market.  I will provide information regarding properties currently available for sale and in escrow as well as transactions that closed in September and include sales results for the same periods for the previous two years.  Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all sales.  While the information is deemed reliable, it has not been verified and is not guaranteed.  

 

South Pasadena(zip code 91030) has a small town charm where you can find tree-lined streets with character homes as well as more modern homes with incredible views in the hills.  The separate city which is not a part of Pasadena - is used extensively in films, television, commercials, video and print media as it can often fit the role as Anywhere USA.  Also known as South Pas to locals and fans alike,  South Pasadena Unified School District is well-regarded and the library is a popular destination for the community.  Many small independently owned businesses and restaurants 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.

 

South Pasadena Homes Close To Farmers Market

 

September Results:

 

  • There are currently fourteen homes on the market for sale ranging from $888,000to $2,399,000.  There are an additional eleven properties in escrow.  

 

  • There were seven mls-reported sales this past month.  These closed transactions ranged from $1,050,000 to $2,135,000 for an average sales price of $1,459,449(median sales price $1,176,000).  Each sold above its last list price -- one sold 23.82% above for an overall average of 108.81%.   The price per square foot was $712,19 on average.  

 

  • There were ten closed transactions reported for September 2016 ranging from $655,000 to $1,950,000 with an average price of $1,259,200(median $1,072,250) with over 60% selling above their last list price for an average 105.68%.  

 

  • During September 2015, there were fourteen reported closed sales ranging from $801,000 to $4,400,000 with an average price of $1,576,545(median $1,320,00)

 

 



Recap from January Through September:

 

  • Historic Homes in South Pasadena 91030

  • There were 98 mls-reported closed transactions in the nine-month period this year.  These sales ranged from $700,000 to $3,200,000 with an average sales price of $1,459,221(median sales price $1,393,000).   They have sold at 104.60% of last list price with more than 74% selling at or above the last list price.   The average price per square foot is $678.09 for the period.

 

  • From January through September in 2016, there were 100 closed transactions reported ranging from $652,500 to $4,230,000 with an average price of $1,327,936(median $1,200,000).   They sold at 103.94% on average - over ⅔ sold at or above last list price.  The average price per square foot stands at $624.17 for the period.  

 

  • In the same January through September time period of 2015, there were also 100 transactions.   These sales ranged from $400,000(really should have been classified as land value) to $4,400,000 with an average sales price of $1,372,725(median $1,265,000).  They sold at 104.13% of last list price and for $613.07 per square foot on average.   Nearly 70% of those sales closed at or above the list price.

 

Altos de Monterey Neighborhood in South Pasadena

 

This report is merely a snapshot look at properties on the market or for sale(and sold) in a particular given time frame.  Obviously looking at nine months versus one month is a better indication of the market and while we see some shifts occurring, the market still favors sellers and buyers should expect that multiple offers may be a part of the buying today especially when properties first come on the market that are well-priced and well-presented. Additional details are necessary in order for a potential seller to arrive at an appropriate listing price and for a prospective buyer to determine their offer strategy.    There are many nuances of a market and factors of individual sales that need to be analyzed than space available in this brief report can convey.  

 

Size of home and usable lot as well as Location in the city makes a difference in the final sales price along with other factors including condition, updates(or lack thereof), emotional appeal and timing.  While multiple offers and sales over list prices remain common, sellers should be mindful to be aware 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 12, 2017

 

What Is My South Pasadena Home Worth Today?  

Free Market Analysis

 

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Rainmaker
3,280,880
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Michael,

Good afternoon.  Glad to see that there is inventory in your wonderful town of South Pasadena.  I often hear raves from various folks we meet.  A

Oct 12, 2017 02:38 PM #1
Ambassador
2,474,829
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Michael - Your market expertise, as clearly demonstrated in this excellent market report, would be a powerful resource for both buyers and sellers in South Pasadena.

Oct 12, 2017 02:40 PM #2
Rainmaker
666,194
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Michael Jacobs - every time I see a Pasadena or So Pas market report with tree lined streets it takes me back to my early years when I worked in Pasadena. South Pasadena is a great area to live if you want that small town feel in a large metropolitan area. Your expertise will be a major benefit to all clients who seek your service.

Oct 12, 2017 04:51 PM #3
Rainmaker
2,390,852
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Michael love your market knowledge and what else you bring to the table and the pictures alone illustrate it, Endre

Oct 12, 2017 11:49 PM #4
Rainmaker
2,580,020
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 are a homeowner and are considering to list your home or condo in South Pasadena, why not give Michael Jacobs a call - He knows the area well.

Oct 13, 2017 05:31 AM #5
Rainmaker
1,163,680
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Your Alexandria Virginia Real Estate Agent

Good morning Michael, when it comes to South Pasadena real estate needs you are the agent to contact. I always find your market reports interesting and easy to understand. You not only know the numbers but, also the story behind them.

Oct 13, 2017 06:11 AM #6
Rainmaker
3,778,541
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.  South Pasadena homeowners will find your market report of great value.  Though, they should call you for the rest of the information.

Oct 13, 2017 06:29 AM #7
Rainmaker
3,086,232
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, real estate is strong in So Pas and you definitely show the charm residents enjoy along with a great location.

Oct 13, 2017 06:40 AM #8
Rainmaker
1,228,000
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I love the tree lined streets and the nostalgic feel of South Pasadena. Great post as always Michael.

Oct 13, 2017 08:31 AM #9
Rainmaker
2,207,400
Rebecca Gaujot
Perry Wellington Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Michael, South Pasadena sounds and looks like a great place to live. If I were to move there you would definitely be the agent to call.

Oct 13, 2017 09:19 AM #10
Rainmaker
2,253,080
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Michael,  Everyone love the word FREE, it is one that gets the phone to ring I always say!

Oct 13, 2017 09:31 AM #11
Rainmaker
1,624,560
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I love the look of a tree lined street and if I ever wanted to know anything about Pasadena, I know just who to call.

Oct 13, 2017 12:54 PM #12
Ambassador
2,209,157
Belinda Spillman
Aspen Lane Real Estate Colorful Colorado - Aurora, CO
Colorado Living!

This is a wonderful glimpse into the lifestyle and real estate market of South Pas.

Oct 14, 2017 09:41 AM #13
Rainmaker
1,508,414
Patricia Feager
DFW FINE PROPERTIES - Southlake, TX
Selling Homes Changing Lives

Although Michael Jacobs would never say it, I believe Pasadena prospers because of his expertise in the Real Estate business. 

Oct 14, 2017 10:27 AM #14
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Rainmaker
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Michael Jacobs

Los Angeles Pasadena Area Real Estate 818.516.4393
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