Pasadena CA May 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
First, a definition of the area for this report is in order. In my report, I extend beyond what some may consider the "prime area" along South Orange Grove Boulevard in Pasadena, CA and include properties south of Colorado Boulevard and north of Columbia. For the eastern boundary, I include Singer Park on California Boulevard and all of the streets that run parallel. The western boundary for this report is the Arroyo(south of the Colorado Street). This report does not include any of the condos or townhomes in Old Pasadena or those north of the 210 Freeway(so does not include Orange Grove Village I or II, Continental Court or any of the developments between North Orange Grove and Arroyo Drive). All information is from the multiple listing service on June 8, 2011 -- it has not been verified and is not guaranteed
Pasadena CA May 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
There were two condominium sales along the South Orange Grove Corridor in May 2011 according to the local multiple lisitng service records. One was a one bedroom unit at Castlegate(330 W California) that sold for $255,000 and the other was a unit in Rose Tree(111 S Orange Grove) that sold for $610,000. This compares to three sales in May 2010. The median sales price in May 2010 was $875,000 compared to $432,500 in 2011. In May 2010 there were two condos that sold for $875,000 and $900,000. This obviously had an impact on the median price.
There are currently 25 condos and townhomes on the market ranging in price from $420,000 to $2,375,000. Five properties are currently in escrow with three of those in back-up status and the other two showing as pending(typically all contingencies have been removed). They range in price from $299,000 to $725,000.
Pasadena CA May 2011 Sales Recap & Market Update - South Orange Grove Corridor Condos & Townhomes
Michael Jacobs is a Realtor who serves the Pasadena and San Gabriel Valley area as well as the northeast foothill communities within the city of Los Angeles. He can be reached at 818.516.4393 cell or michaeljacobs@coldwellbanker.com
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