Market Update for Pasadena Millionaire’s Row
This is a market recap for the condos and townhomes along the South Orange Grove Boulevard corridor in Pasadena. This report covers closed sales activity for January 2016 with a comparison to sales for the month in 2014 and 2015. I will also share information of those currently on the market for sale and in escrow.
This popular location is also known as Millionaire’s Row for the stately mansions which once lined the wide palm-lined street at the turn of the 20th century. Today the street and adjacent streets East of the Arroyo Seco feature units in various complexes with extensive gardens and verdant green lawns.
All information in this report is from our local multiple listing service(mls) and may not include all transactions. This report 
does not include activity at Ambassador Gardens - the new construction development on the site of the former Ambassador College.
The South Orange Grove Boulevard corridor is located between the Arroyo Seco Parkway(110) and the juncture of the Foothill(210) and Ventura(134) freeways. It is highly convenient to the abundant shopping, dining, cultural, entertainment and recreation opportunities that make Pasadena a popular destination in the San Gabriel Valley of Los Angeles County.
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In January 2016, there was just one mls-reported sale. It was a three bedroom condo with approximately 2029 square feet which sold for its list price of $849,000 in an all cash transaction.
There were no sales reported in January 2015.
In January 2014, there were three mls sales which ranged from $895,000 to $1,510,000 with an average price of $1,115,000 (median sales price $940,000). They sold at 97.18% of last list price and for an average price per square foot of $484.35.
There are currently four condos and one townhouse on the market for sale ranging from $696,999 to $1,179,000 with an additional seven in escrow. A year ago, when gathering information for this report, there were nine condos and one townhome for sale with three more in escrow.
One month’s results do not make a year so no conclusions can or should be made based on January activity. Inventory of properties available for sale remains a challenge but this does not mean that sellers control the market. Proper pricing and presentation remain quite important. There are nuances for selling and buying a condo here that need more space to explain than available in this brief report. If you would like to know about Millionaire’s Row or any Pasadena real estate contact me at 818.516.4393. Let’s discuss what is important to you.
For an insight into this Pasadena neighborhood - check this brief slideshow highlighting the Storrier Stearns Japanese Garden located along Millionaire’s Row.
Published: February 5, 2016
Market Update for Pasadena Millionaire’s Row
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