Living Along Pasadena Millionaire’s Row.
An Update for South Orange Grove Boulevard.
This is a real estate market activity report for South Orange Grove Boulevard area condos and townhomes for sale, in escrow and sales for the first four month of 2016 
with a comparison to the same time period for the previous two years. Statistical information in this report have been gathered from our local multiple listing service(mls) and may include all transactions in the area. .
South Orange Grove Boulevard has been referred to as “Millionaire’s Row” as this palm lined street once was home to many large Pasadena estates in the early part of the 20th century. Today, you will find a collection of various condominium and townhome complexes along and adjacent to this impressive street. Most complexes have expansive lawn areas and beautifully landscaped grounds. It would be impossible to duplicate the appearance at today’s prices.
The location in the Southwest area of the city is between the Arroyo Seco Parkway(110) as well as the juncture of the Foothill(210) and Ventura(134) freeways.
It is convenient to many options for shopping, dining, culture, entertainment and recreation.
Tournament House, the home of the Tournament of Roses has a significant presence on the boulevard which also marks the start of the annual Pasadena parade.
There are currently fifteen properties available on South Orange Grove. They range in price from $749,000 to $2,099,000 with an additional eight condos in escrow. In the first four months of 2016, there have been 17 mls-reported closed transactions. These sales were from $655,500 to $1,488,000 with an average sales price of $935,206(median sales price $935,000). They sold at an average 97.97% of last list price and for an average $451.77 per square feet.
In the same January through April time period in 2015, there were ten mls-reported closed transactions from $625,000 to $1,688,000 with an average sales price of $1,009,000 (median $1,069,000). They sold at 104% and for $485.90 per square foot on average.
My update in 2014 showed 15 closed sales according to mls statistics. Those transactions ranged from $575,000 to $2,100,000 with an average price of $925,200(median $770,000). They sold at 99.43% of last list price and for $423.95 per square foot on average.
The statistics I share here are an overview and a snapshot of the market for a given period of time. For prospective sellers and buyers alike, much greater detail is necessary to determine with you as the seller a realistic list price. For buyers, we will 
also review the most recent and most pertinent information so you will be able to craft an appropriate offer including price and terms.
Inventory of properties available to sell is at the same level as one year ago when I gathered data for this report. This is significantly over the number available two years ago but the market still favors sellers. Overall prices remain strong which I believe are influenced by the new construction at Ambassador Gardens(on the site of the old Ambassador College campus and not a part of this report). South Orange Grove Boulevard looks like almost bargain-like in comparison.
If you are thinking of buying, selling or just curious about our current market, let’s discuss what is important to you. I can be reached at 818.516.4393 cell.
Published: May 4, 2016
Living Along Pasadena Millionaire’s Row.
An Update for South Orange Grove Boulevard.
Comments(15)