Pasadena CA - South Orange Grove Blvd Condos and Townhomes For Sale
This is a summary of South Orange Grove Boulevard corridor condos and townhomes for sale and a market update as of December 3, 2013. This will cover the resale market for the category for the month of November and year-to-date period for the year with a comparison to the same period in 2012. Information is from our local multiple listing service(mls).
Many will recognize the building featured to the left - as the Tournament of Roses home. Wrigley House is the headquarters for the Tournament of Roses which organizes the annual Rose Parade. The home was designed by G Lawrence Stimson and includes magnificent gardens. The South Orange Grove area was once known as “MIllionaire’s Row” for the fine homes and mansions which once lined the street. Today you will find some of the area’s most desired condominium and townhome complexes.
There are currently just seven properties on the market for sale and they range in price from $709,000 to $2,895,000. Another seven are in escrow. During the month of November there were three sales according to mls statistics and the closed transactions ranged in price from $735,000 to $1,000,000 with an average sales price of $828,333(median $750,000).
During the November of 2012, there were two sales: a circa 1936 historic condo in the Vista Grande complex on South Grand for $505,000 and a mid-century condo located across from the Tournament House for $520,000.
For the first eleven months of 2013, there have been 42 South Orange Grove area condos and townhomes sold according to mls statistics. The transactions range in price from $490,000 to $1,095,000 with an average sales price of $713,500(median $679,500). The average price per square foot stands at $375.02 and the average sales price versus last list price is 99.28% with 21 selling at or above the list price. In the same period in 2012, there were 53 closed sales ranging in price from $353,000 to $1,200,000 with an average sales price of $655,541(median $629,000). The average price per square foot for the period was $340.08.
Inventory of the South Orange Grove condos and townhomes for sale remains low which has had an obvious effect on sales volume. There is new construction underway in the area on the campus of the former Ambassador College which should positively impact sales and prices in the neighborhood(more on that project later).
If you would like to know more detailed information regarding South Orange Grove condos and townhomes or any Pasadena real estate whether you are a prospective buyer or a property owner thinking of selling contact me at 818.516.4393 cell or michaeljacobs@coldwellbanker.com.
Pasadena CA - South Orange Grove Blvd Condos and Townhomes For Sale
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