What Sold Along The Lower Arroyo Neighborhood in Pasadena?
This is a real estate market activity report for the Lower Arroyo neighborhood in Pasadena. In this report, I will also share information regarding sales of homes in 2016 along with a comparison to full year sales 
for the previous two years. In addition, I am including a recap of homes for
sale, in escrow and sales so far in 2017.
The statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the area. For purposes of this report, the boundaries I am using are Colorado Boulevard and the Colorado Street Bridge as the northern border, South Orange Grove Boulevard(Millionaire’s Row) to the east and the Arroyo Seco to the west. The city’s border with South Pasadena is the southern boundary.
The Arroyo Seco(Spanish meaning - dry stream, creek or riverbed) runs nearly 25 miles from its origin in the Angeles National Forest in the San Gabriel Mountains. It eventually reaches Pasadena, the Rose Bowl and Brookside Park. It travels southward and then merges with the Los Angeles River near Dodger Stadium just north of Downtown Los Angeles. The first freeway in the area, the Arroyo Seco Parkway(110) runs parallel to the Arroyo Seco from South Pasadena.
The setting is quite idyllic with magnificent vistas and tree-lined streets.
Within the neighborhood, you will discover different enclaves which are unique districts onto themselves. Yet the neighborhood is quite convenient to abundant culture, shopping, dining, entertainment in Old Pasadena, Civic 
Center, Pasadena Playhouse and Paseo Colorado. Transportation via multiple freeways is also easily accessible.
The homes located here vary extensively in both size and architecture. You can see many examples of Craftsman architecture which is obviously inspired the beauty of the river rock and the natural contour of the Arroyo as well as ranch style homes in the Busch Gardens enclave - the former turn-of-the-20th- century home of Adolphus Busch and called the first Busch Gardens in the United States -- not an amusement park with beer just beautiful gardens in its day.
There were 17 mls-reported closed transactions of homes in the Lower Arroyo neighborhood. These have sales ranged from $1,003,500 to $4,290,000 with an average sales price of $1,865,508(median sales price $1,700,000). Ten of those sales were at or above last list price for an average 98.35% with a price per square foot of $680.13 for the year.
From January through December 2015, there were 21 closed sales reported ranging from $945,000 to $4,450,000 with an average sales price of $1,897,882(median $1,721,281). They sold at 102.71% of last list price and for $662.66 per square feet for the year.
For full year 2014, there were 19 closed transactions. These sales ranged from $1,175,000 to $3,900,000 with an average price of $2,162,426(median $1,955,000). They sold at 102.92% of last list price and for $637.50 per square foot on average.
There are currently two homes on the market for sale. One built in 1939, it is a replica of the 17th century Spanish Colonial Governor’s mansion in the city of Antigua. Guatemala. Featured in Architectural Digest, the home is currently listed for $4,700,000. The other is a circa 1951 Monterey Colonial designed by Roland Coate on a cul-de-sac in the Upper Busch Gardens area. With approximately 2705 square feet, it is listed for $2,495,000. There are two additional homes in escrow. There have been no sales reported so far this year.
This report should serve as an introduction to the neighborhood and does not address the specifics necessary for a prospective buyer to determine a possible purchase price or a homeowner thinking of selling to arrive at an appropriate listing price.
The neighborhood and its homes are unique and each needs extra analysis. This, like most Pasadena neighborhoods, is not a tract development and the nuances between homes and location within the neighborhood as well as typical factors such as home and lot(and usability) size, view, condition, updates(or lack thereof), emotional appeal and timing are all important considerations.
If you are thinking of purchasing or considering a sale in the Lower Arroyo or any Pasadena neighborhood, let’s discuss what is important to you. I can be reached at 818.516.4393 cell.
Published: February 6, 2017
What Sold Along The Lower Arroyo Neighborhood in Pasadena?
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