Madison Heights Homes For Sale
and First Quarter 2016 Market Update
This is a real estate market activity update for Madison Heights homes currently on the market for sale along with those in escrow and sold in the first quarter of 2016. In this report, I will also 
share closed transactions from the same time period in 2015. All statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the Pasadena neighborhood.
According to the Madison Heights neighborhood website the boundaries are Lake, El Molino and Los Robles avenues to the east and south, Marengo Avenue to the west and California to the north The website states the neighborhood was largely developed in the early years of the 20th century. There are many historic and architecturally significant properties located in Madison Heights. The pretty tree-lined streets often serve as a backdrop for filming and photography.
The neighborhood is convenient to shopping, dining, entertainment and cultural venues in Old Pasadena, Paseo Colorado, Playhouse District, Civic Center and South Lake Avenue. Notable Pasadena institutions of higher learning include: California Institute of Technology (Caltech), Art Center College of Design, Pasadena City College (PCC) and Fuller School of Theology. Transportation is easily accessible via multiple freeways and the Gold Line Fillmore station on the west and Lake Avenue on the east.
There are voluntary membership dues for the approximately 1200 households in the neighborhood. Nominal annual dues go towards the publication of newsletters, events and activities. One of the most successful and certainly fun event is the annual 4th of July Parade and Picnic.
There are currently seven Madison Heights homes on the market for sale ranging from $699,000 to $3,580,000 with an additional eight properties in escrow. All but one of these homes has been on the market for less than a month - four at or less than a week. In the first quarter of 2016, there were five mls-reported closed transactions. These sales ranged from $1,028,000 to $2,465,000 with an average closed price of $1,691,000(median sales price $1,662,000). They sold at 104.90% of last list price and for an average price per square foot of $601.16.
- In the same three period in 2015, there six properties sold. Those transactions ranged from $825,000 to $2,488,000 with an average price of $1,497.167(median $1,152,500). They sold at 96.38% of last list price and for $545.09 per square foot on average.
This yet another Pasadena historic neighborhood that is not cookie cutter. The condition of homes along with the sizes of 
both the homes and lots vary greatly here. Style of home, location within the neighborhood are additional considerations when
arriving an appropriate listing price for a seller or offer terms for a buyer. A more in-depth analysis is recommended in order to have enough information to make an informed decision - this is something I do everyday.
Thinking about Madison Heights or any Pasadena neighborhood? Contact me at 818.516.4393 cell. Let’s discuss what’s important to you.
Published: April 26, 2016
Comments(24)