Bungalow Heaven Landmark District in Pasadena
Mid-Year 2017 Real Estate Market Report
This is a real estate market activity report for the Bungalow Heaven Landmark District in Pasadena. In this report I will share sales results for the first six months of 2017 with a comparison to the same time period for the previous two years. Additionally, there is a recap of Bungalow Heaven homes for sale and in escrow. The statistical information in this report has 
been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood.
Established in 1989 as the city’s first historic landmark district, the boundaries are roughly Orange Grove and Washington boulevards south/north and Lake and Hill avenues west/east.
While many architectural styles exist in Bungalow Heaven, the overwhelming majority of the approximately 900 homes are bungalows from the Arts and Crafts period(also known as Craftsman) from the early 20th century. Like the majority of Pasadena neighborhoods, you will not find cookie cutter homes.
They vary greatly in size and condition, from quite small to much larger and from fixer-uppers to incredibly and authentically restored. The streets are tree-lined with McDonald Park near the center of the community. The community has received nation-wide acclaim and is on the National Register of Historic Places and California Register of Historic Resources. The annual Bungalow Heaven home tour each Spring is one the most popular events in the area.
Located just north of the Foothill(210)Freeway and the Gold Line Lake Avenue light rail station, the neighborhood is convenient to many shopping, dining, culture, higher education and recreation opportunities in Pasadena and beyond.
From January through June this year, there were ten mls-reported closed transactions. These sales ranged from $769,000 to $1,610,000 with an average sales price of $1,102,890 (median sales price $1,062,500). Seven of the ten sold at or above last list price for an average 103.33%. On average the price per square foot was $574.67 for the six month period.
There is just one Bungalow Heaven home on the market for sale. A fixer, it has six bedrooms, three baths with approximately 3450 square foot lot on an impressive 16376(per public records) square foot lot. It is priced at $1,495,000. Two additional properties are in escrow.
In the first half of 2016, there were 16 reported sales in Bungalow Heaven. The closed transactions ranged from $630,000 to $1,028,000 with an average price of $842,000(median was also $842,000). They sold at 97.95% of last list price and for $488.51 per square foot on average.
In the same six month time period in 2015, there were 19 closed transactions ranging from $509,000 to $1,150,000 with an average price of $758,632 (median $830,000). They sold at 102.68% of last list price and for $523.69 per square foot on average.
The low inventory of available homes for sale in Bungalow Heaven continues to be an issue for buyers. Last year when gathering information for this same report, there were four on the market for sale and one today. Multiple offers 
and sales over list price are still evident in many of the homes that are priced appropriately, presented well and are easily available to be shown.
Obviously selecting the most appropriate list price will require a careful analysis of recent history of comparable properties with a review of updates(or lack thereof), condition, timing, emotional appeal as well as other factors. The location within the neighborhood has relevance as well. This same strategy is important for those looking to purchase as well.
Whether you are a prospective buyer or a homeowner thinking of selling in Bungalow Heaven or anywhere in Pasadena contact me at 818.516.4393 cell.
Published: July 21, 2017
Bungalow Heaven Landmark District in Pasadena
Mid-Year 2017 Real Estate Market Report
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