Free Market Analysis
Chapman Woods Pasadena Neighborhood
Real Estate Market Review
January through September
This is a real estate market activity review for the Chapman Woods neighborhood in Pasadena. In this report, I will share information regarding closed transactions for the first nine months of 2017 along with a recap of sales for that same period over the previous two years. I am also including a recap of homes currently available for sale and in escrow.
Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the neighborhood. The information is from reliable sources and deemed reliable but has not been verified and is not guaranteed.
Chapman Woods is located in unincorporated Los Angeles County with a Pasadena address(zip code 91107). The neighborhood consists of single-family homes in a variety of architectural styles ranging from modest ranch-style homes to more modern designs as well as many character homes with influences of Spanish, English Tudor, Colonial and Cape Cod designs on leafy tree-lined streets. It is definitely not cookie-cutter.
The general boundaries of this Southeast Pasadena area neighborhood are Rosemead Boulevard to the east, south of Del Mar Boulevard, north of Huntington Drive and the SCE right-of-way to the west. According to the community website there are 462 homes in Chapman Woods. The neighborhood has easy access to multiple freeways with abundant venues for shopping, dining, entertainment, culture and recreation in Pasadena as well as in the adjacent city of Arcadia.
The active neighborhood association has a strong block representation system which serves as means of communication for the community. There are regular get-togethers for neighbors to socialize and a quarterly newsletter. Lot sizes for the homes in the southern portion (generally South of San Pasqual Street)of the neighborhood can be quite large, often in excess of one acre.
There were 16 mls-reported closed sales from January through September 2017. These transactions ranged from $670,000 to $7,050,000 with an average sales price of $1,490,938(median sales price $1,080,00). Fifty percent sold at or more than last list price for an average 99.30%. With a variety of square footages and locations within the neighborhood represented in sales, the average price per square foot was $548.64 for the nine-month period.
There are currently two homes on the market in Chapman Woods. One is newly listed with approximately 4336 square feet is priced at $4,500,000 and the other is offered at $4,848,000(about 5460 square feet) on a lot that is more than one acre. There are currently no properties in escrow in the neighborhood.
From January through September in 2016, there were nine reported closed sales ranging from $752,000 to $3,360,000 with an average price of $1,533,000(median $1,165,000). All but two sold at or above list price for an average 105.40% with an average price per square of $524.27 for the period.
In the same nine-month period in 2015, there were 17 transactions reported ranging from $643,000 to $2,008,000 with an average sales price of $1,172,400(median $1,051,000). They sold at 101.01% of last list price and for $522.00 per square foot on average.
The numbers presented here tell only a part of the story when it comes to the Chapman Woods real estate market. There are many factors for either a prospective buyer or a homeowner who may be thinking of selling to consider. The size and condition of homes, as well as the amount of land, varies greatly in the neighborhood so a closer analysis should include a review of the condition, updates(or lack thereof), location within the neighborhood, emotional appeal and timing. When you drive through the neighborhood, you will notice many renovation projects in progress.
If you are interested in learning more about Chapman Woods or any Pasadena neighborhood contact me at 818.516.4393 cell. I look forward to learning what is most important to you regarding real estate.
Published: October 14, 2017
Chapman Woods Pasadena Neighborhood
Real Estate Market Review
Free Market Analysis
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