Free-Market Analysis: Pasadena Upper Hastings Ranch Neighborhood
What is my Upper Hastings Ranch Home Worth?
A Look at The First Nine Months of the Year
Do You Want a Free Market Analysis Of Your Upper Hastings Ranch Home?
How Are Recent Sales in Upper Hastings Ranch Impacting Your Home’s Market Value?
This is a real estate activity report for the Upper Hastings Ranch neighborhood in Pasadena 91107. In this report, I will share sales information for the first nine months of 2017 along with a comparison of the same period of time for the previous three years. In addition, I am 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 Hastings Ranch neighborhood consists of Lower Hastings Ranch, Upper Hastings Ranch and Hastings Heights. This report showcases Upper Hastings Ranch neighborhood. Upper Hastings Ranch, for purposes of this report, covers the area north of Sierra Madre Boulevard, with Michillinda Avenue as the eastern border, south of the Hastings Heights neighborhood and east of the Eaton Canyon Golf Course.
The neighborhood was primarily built in the early to mid-1950s as well as some single-family homes that were built in the 1970s. Pasadena is not known for its large-scale developments that are more common in other parts of Southern California. With more than 1000 single family homes in Upper Hastings Ranch, the neighborhood has a long history. Surprisingly, there are still a significant number of residents who are original or long-term property owners. The overwhelming majority of homes in the neighborhood are single story.
The neighborhood is very convenient to the Foothill(210) Freeway and the Gold Line light rail station at Sierra Madre Villa. Abundant shopping and dining options along with culture, entertainment and recreation combine to enhance the appeal of living in Pasadena.
Events in the neighborhood are very popular. One and probably the most well known is the longtime tradition of the Upper Hastings Ranch Light Up Festival during the holiday season when each street has a decorating theme. Many visitors drive and stroll through the neighborhood streets getting into the holiday spirit.
Second, immediately following the annual Rose Parade in January, visitors gather near the intersection of Sierra Madre and Washington boulevards to see the parade floats up close after they finish the five-and-one-half mile trek down Colorado Boulevard each New Year.
Third, each Saturday morning, a Farmer’s Market is held at Victory Park near Pasadena High School where fresh produce and artisan food products are available.
During the first nine months of 2017, there were 24 mls-reported sales closed in Upper Hastings Ranch ranging from $748,000 to $1,940,000 with an average sales price of $1,092,600(median sales price $961,500). Over 70% sold at or above last list price for an average 102/48% and a price per square foot of $515.99 for the period.
- There are currently four homes available for sale in Upper Hastings Ranch ranging from $799,000 to $2,288,000. An additional three homes are in escrow.
In the first nine months of 2016, there were 29 closed sales reported in our mls. These transactions ranged from $653,000 to $1,498,000 with an average price of $877,603(median $808,000). They sold on average at 101.63% of last list price and for $506.01 per square foot for the period.
From January through September in 2015, there were 24 closed transactions ranging in sales prices from $675,000 to $1,250,000 with an average price of $863,667(median $849,000). They sold at 99.03% of last list price and for $463.50 per square foot on average during the period.
Multiple offers and homes selling at or in excess of list price remain an indication of both the general lack of inventory of Upper Hastings Ranch homes for sale and the continued popularity of the area.
There are nuances in this Pasadena neighborhood that I can share with you that do have an impact on the prices and appeal of homes. In addition to size of the home and the lot, there are other factors that both prospective buyers and homeowners should consider when crafting an offer or when presenting a home to the market for sale.
Location in the neighborhood is a consideration and condition remains quite important. I have seen homes in original condition that have been gently cared for and maintained while others may need more than a usual dose of tender loving care. Then there is the discussion of updates(or lack thereof), emotional appeal and the all-so-important topic of timing.
If you are interested in knowing more about the Hastings Ranch neighborhood in Pasadena, contact me at 818.516.4393 cell. I welcome the opportunity to discuss your real estate needs and learning what is most important to you.
Published: October 31, 2017
Free Market Analysis: Pasadena Upper Hastings Ranch Neighborhood
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