A Look At Heritage Walk Townhomes in Pasadena
This is a real estate market update for the Heritage Walk townhome complex in Pasadena. In this report, I will share year-to-date information regarding activity so far in 2017 along with a sales recap of the previous four years. All statistical data has been gathered from our local multiple listing service(mls) and may not include all activity in the complex.
Heritage Walk was built in 2000 by Southern California developer The Olson Company who has done quite a few in-fill projects in mature well-established Pasadena neighborhoods. This 38 unit complex features multi-level living. With up to three bedrooms, three baths some of the floor plans at Heritage Walk were marketed as an ideal option for live-work options when they were originally marketed.
Interiors feature high ceilings, balconies/decks, fireplaces, in-unit laundry connections and interesting architectural niches. Each home has a private enclosed garage.
Somewhat controversial when it was built, The Olson Company constructed Heritage Walk very close to the street so common area landscaping is minimal. Heritage Walk was the first development of its kind in the city and proved so successful the company has built other projects in Pasadena and in other communities.
The importance of location in real estate is well-known and that is certainly one of the appealing factors for Heritage Walk. It is close to the Pasadena Playhouse, South Lake Avenue, the Civic Center, Paseo Colorado and Old Pasadena. Transportation is easily accessible through multiple freeways as well as the Gold Line light rail station at Lake Avenue. Each unit has its own address in the complex: either Walnut Street or Madison Avenue.
There are no Heritage Walk townhomes available for sale. So far in 2017, there have been no listings or closed sales reported.
There were three mls-reported closed transactions in 2016. These ranged in sales prices from $525,000 to $629,000 with an average price of $589,667(median sales price $615,000). They sold at 99.05% of last list price and for $401.81 per square foot on average.
In 2015, there were three closed sales reported ranging from $499,000 to $620,000 with an average price of $549,667(median $530,000). Each sold at or above their list price for an average 103.26% of list price. The average price per square foot was $428.36 for the year.
There were four transactions in 2014 ranging from $520,000 to $622,500 with an average sales price of $545,625(median $520,000). They sold for 98.53% of last list price and for $403.94 per square foot on average.
For full year 2013, there was one closed sale reported. It was a three bedroom floor plan with approximately 1748 square feet which sold for $580,000.
Since many Pasadena condominium and townhome complexes are small, there may be times where there is nothing or very little for sale -- so, if a unit is not available in one complex --- I can always suggest an alternative.
As always when reviewing any market report -- more detailed information and analysis is necessary for a prospective buyer considering an offer strategy. The same is true for homeowners who may be thinking of selling and developing the best possible marketing plan.
If you would like to know more about Heritage Walk or any Pasadena real estate contact me at 818.516.4393 cell. Let’s discuss what is important to you.
Published: June 30, 2017
A Look At Heritage Walk Townhomes in Pasadena
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