Free Market Analysis: Pasadena Lower Hastings Ranch Neighborhood
What is my Lower Hastings Ranch Home Worth?
A Look at The First Nine Months of the Year
Do You Want a Free Market Analysis?
How Are Recent Sales in Lower Hastings Ranch Impacting Your Home’s Market Value?
This is a real estate market activity report for the Lower Hastings Ranch neighborhood. In this report, I will share information about closed sales for the first nine months of 2017 as well as a comparison of transactions for the same January through September period in the previous three years. In addition, there is a recap of homes for sale and in escrow. The statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all activity in the neighborhood.
The Hastings Ranch neighborhood consists of Lower Hastings Ranch, Upper Hastings Ranch and Hastings Heights. This report showcases Lower Hastings Ranch. For purposes of this report, Lower Hastings Ranch area covers the area south of Sierra Madre Boulevard, west of Michillinda Avenue, north of the Hastings Ranch shopping areas and east of Sierra Madre Villa Avenue with the exception of the Estates Pasadena development.
Although there are condominiums, townhomes and apartments in the area on Cliff Avenue, Hastings Ranch Road and Rosemead Boulevard, this report covers only single family homes.
Building in Lower Hastings Ranch began in the late 1940s with the majority of the homes constructed in the 1950s. Lower Hastings Ranch has typically larger and wider lots than those in
Upper Hastings Ranch with custom or semi-custom homes on tree-lined streets. The homes are generally single level although many of the remodeling(or teardown and new construction) that has taken place includes multi-story designs. There are between 250 and 300 homes in the well-manicured neighborhood.
The neighborhood is convenient to abundant shopping, dining, entertainment, recreation and cultural destinations. The Foothill(210) Freeway and the Gold Line light rail station at Sierra Madre Villa are easily accessible.
The neighborhood is very convenient to the Foothill(210) Freeway and the Gold Line light rail station at Sierra Madre Villa. Abundant shopping and dining options along with culture, entertainment and recreation combine to enhance the appeal of living in Pasadena.
From January through September this year, there have been thirteen mls-reported closed transactions ranging from $890,000 to $1,802,000 with an average sales price of $1,249,413(median sales price $1,190,000). They sold at 101.37% of last list price and for $531.11 per square foot on average for the period.
There is currently just one Lower Hastings Ranch home for sale. Located on Canfield Road, it is a newly listed four bedroom, three bath home with approximately 2210 square feet priced at $1,399,000. Two additional homes are in escrow.
In the first nine months of 2016, there have been fifteen mls-reported closed sales ranging from $800,000 to $1,701,000 with an average price of $1,062,133(median $975,000). They have sold at 101.17% of last list price and for $511.99 per square foot on average.
In the same January through September time period in 2015, there were six reported closed transactions. These sales ranged from $799,000 to $1,298,000 with an average price of $1,045,167(median $997,500). They have sold at 100.84% of last list price and for $500.41 per square feet on average.
During the same period in 2014, there were ten sales reported ranging from $730,000 to $1,400,000 with an average price of $1,035,000(median $1,050,000). They sold at 102.43% of last list price and for $501.02 per square foot on average.
Multiple offers and homes selling at or in excess of list price continue to be an indication of the lack of inventory of Lower Hastings Ranch homes for sale.
There are nuances in this Pasadena neighborhood that I can share with you that do have an impact on the prices and appeal of homes. In addition to size of the home and the lot, there are other factors that both prospective buyers and homeowners should consider when crafting an offer to purchase or when presenting a home to the market for sale.
Condition remains quite important. I have seen homes in original condition that have been gently cared for and maintained while others that may need more than a usual dose of tender loving care. Then there is the discussion of updates(or lack thereof), emotional appeal, location within the neighborhood and the all-so-important topic of timing.
If you are interested in knowing more about the Hastings Ranch neighborhood in Pasadena, contact me at 818.516.4393 cell. I welcome the opportunity to discuss your real estate needs and learning what is most important to you.
Published: October 27, 2017
Free Market Analysis: Pasadena Lower Hastings Ranch Neighborhood
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