Village Circle Townhomes in Temple City Market Update

Village Circle Townhomes in Temple City Market Update

This is a real estate market activity report for the Village Circle townhome complex in the city of Temple City which is located in the middle of the San Gabriel Valley of Los Angeles County.  In this report, I will share information regarding properties currently on the market for sale as well as closed transactions so far in 2016 with a recap of full year sales for the previous three years.  Statistical information in this report has been  gathered from our local multiple listing service(mls) and may not include all transactions in the complex.   

Village Circle is a community of 50 two level townhomes that were built in 1975 and 1976.  The townhomes consist of two or three bedrooms and up to two-and-one-half bath with approximate square footages from under 1200 to over 1400 square feet. There are garages either a two garage or a combination of a one car garage with a carport.  All have a nice enclosed patio area, some have balconies as well and abundant windows make the units especially light.   

The professionally managed complex is pleasantly arranged around a well-landscaped loop creating an particularly welcoming feel to the community.   There is a gated pool, clubhouse and lounge area.  There is guest parking throughout the complex.

According to the Arcadia Unified School District boundaries, children in the complex are eligible for attendance in the highly regarded district.

The central West San Gabriel Valley Temple City location is convenient to multiple freeways as it is convenient to the Foothill(210) and San Bernardino(10) freeways as well as the San Gabriel River(605) Freeway.  Shopping and dining can be found in Temple City as well as nearby Arcadia and other communities.  

• There are currently two Village Circle townhomes for sale.  Both are three bedroom floor plans.  The first features approximately 1296 square feet and is offered at $498,000.  A new listing with approximately 1458 square feet and numerous updates has been listed for $549,000.   There has been one mls-reported sale in 2016.  It was also a three bedroom unit with about 1296 square feet.  A fixer, it sold for $455,000(list price $450,000) in March.

• For full year 2015, there have been two mls-reported closed transactions.   In February a three bedroom floor plan with approximately 1458 square feet closed for $541,500(list price $538,900) in an all cash transaction.  Market time for this unit was eight days.  Earlier this month, a two bedroom with approximately 1196 square feet sold for $427,000(list price $428,000).  It was also an all cash transaction and mls reports the total market time as 22 days.

• There were no mls-reported transactions in the complex in 2014.  

• For full year 2013 there were two sales.  Both were three bedrooms but different sizes.  A unit with approximately 1296 square feet with extensive renovations closed for $440,000(list price $449,000) in an all cash transaction in March of that year.  In April 2013, a unit with 1423 square feet(approximately) sold for $418,000(list price $428,000).  The home was in good but not upgraded condition and the buyer obtained a mortgage.

There are many factors to consider when determining an appropriate list price for a seller or offer terms for a buyer.   The size of the unit as well as updates(or lack thereof), motivation and location within the complex are taken into consideration. For more details regarding Village Circle or any Temple CIty or West San Gabriel Valley real estate contact me at 818.516.4393 cell.  Let’s discuss what is important to you.  

Published:   May 12, 2016

Village Circle Townhomes in Temple City Market Update