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Pasadena Real Estate Market Report and Statistics

Pasadena At-A-Glance Real Estate Statistics – May 2011

May 2011 Real Estate Market Activity for Pasadena

Here’s a latest list of the newest home listings in Pasadena:

  • Thu, 25 Feb 2021 23:07:00 +0000: $1,799,000 :: 1028 Glen Oaks Boulevard, Pasadena CA, 91105 - Pasadena Home Search
    Property Photo



    3 beds, 3 baths
    Home size: 2,557 sq ft
    Lot Size: 20,909 sq ft
    Added: 01/31/21, Last Updated: 02/25/21
    Property Type: Single Family
    MLS Number: P1-3147
    Community: 648 - Pasadena (SE)
    Tract: Not Applicable
    The price of this listing was last reduced on 2/25/2021 by 5%
    Status: Active


    Never ending views of Pasadena! This Mid Century home has walls of glass, an open floor plan and views in every direction. The home has a large living room, dining room, den and office space as well as three bedrooms and three bathrooms. The kitchen and bathrooms have been updated. In addition to the two car garage, there are two off street parking spots. This home is close to the Rose Bowl, yet up the hill on a quiet street.

    Listed with Amy Engler CalDRE: 01413993, COMPASS


    Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!


  • Thu, 25 Feb 2021 20:59:00 +0000: $1,049,988 :: 591 S Marengo Avenue #5, Pasadena CA, 91106 - Pasadena Home Search
    Property Photo



    3 beds, 3 baths
    Home size: 1,818 sq ft
    Lot Size: 16,989 sq ft
    Added: 12/23/20, Last Updated: 02/25/21
    Property Type: Condo/Townhouse/Co-Op
    MLS Number: P1-2704
    Community: 647 - Pasadena (SW)
    Tract: Other
    The price of this listing was last reduced on 2/25/2021 by 3%
    Status: Active


    Meridian Court, not your typical townhouse complex; each dwelling features individual patios, direct access to underground parking and the common courtyard, but each one is unique, with its own size, internal configuration and special living quality. Located in the quiet corner of the building, the uniqueness of Unit 5, the largest at 1818 sq. ft., starts with the soaring atrium ceilings, huge wrap around private patio & penthouse deck. Enter the living room with infinity fireplace, atrium ceiling, dining room, updated chef's kitchen, oversize windows, & two patio exit doors that offer seamless indoor/outdoor living. The second level offers, large windows, two bedrooms, guest bath, laundry closet & courtyard view. The third level is the master suite with designer paint colors & full bath with dual sinks, soaking tub & shower. Up a couple of steps to the open office area & the fabulous penthouse deck with mountain, city & Rose Bowl Fireworks views! Recent improvements include HVAC, water heater, flooring, infinity fireplace, Nest climate control, outside painted & designer indoor paint. This is a fantastic townhome located close to all that Pasadena has to offer, Old Town, Paseo, Lake Ave and the Gold Line! Not to mention a stone's throw away from Trader Joes' & Whole Foods. Designed by Architects & Urbanists Moule & Polyzoides, whose projects include the Del Mar Station, Playhouse Plaza & Mission Meridian Village (check their projects @ www.mparchitects.com).

    Listed with Steven Kuhn CalDRE: 01237314, Anderson Ballard Companies


    Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!


  • Thu, 25 Feb 2021 20:51:00 +0000: $1,090,000 :: 1046 N Garfield Avenue, Pasadena CA, 91104 - Pasadena Home Search
    Property Photo



    4 beds, 3 baths
    Home size: 2,012 sq ft
    Lot Size: 8,495 sq ft
    Added: 02/25/21, Last Updated: 02/25/21
    Property Type: Single Family
    MLS Number: 21695698
    Community: 646 - Pasadena (NE)
    Status: Active


    Stunning turn-of-the century Victorian with modern amenities and two fireplaces! This 4 bedroom 3 bath beauty with it's open floor plan, hardwood floors, gourmet kitchen, and formal dining room is perfect for entertaining. For those romantic evenings, grab a bottle of your favorite Pinot from your wine room and relax either on the over-sized front covered porch or retire in your Master Bedroom suite and listen to the crackling of the fireplace from your bed, read a book in the study or relax in your Master Bathroom tub or grotto shower. This home really has it all - elegance, charm, history and romance!

    Listed with Craig Shapiro CalDRE: 01904168, Coldwell Banker Realty


    Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!


  • Thu, 25 Feb 2021 18:07:00 +0000: $950,000 :: 1509 Atchison Street, Pasadena CA, 91104 - Pasadena Home Search
    6 beds, 5 baths
    Home size: 3,356 sq ft
    Lot Size: 10,019 sq ft
    Added: 02/20/21, Last Updated: 02/25/21
    Property Type: Single Family
    MLS Number: AR21036328
    Community: 699 - Not Defined
    Status: Active


    LUXURY FRENCH VILLA that will WORTH 1.7M is approved and ready to build!! Extra large 10005 SQFT lot that has an existing fully remodeled 2 bedrooms and 1 bathroom back house with extra rental income ($2490/month), has plans approved for a detached 2540 SQFT front house of 4 bedrooms and 4 bathrooms (4 suites). The planned property has 2 units totalling of 6 bedrooms and 5 bathrooms (3356 SQFT). DO NOT DISTURB OCCUPANTS!

    Listed with Diane Shi CalDRE: 01914089, Echain Realty


    Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!


  • Thu, 25 Feb 2021 17:54:00 +0000: $899,900 :: 3755 Mohawk Street, Pasadena CA, 91107 - Pasadena Home Search
    Property Photo



    2 beds, 2 baths
    Home size: 1,686 sq ft
    Lot Size: 5,228 sq ft
    Added: 02/18/21, Last Updated: 02/25/21
    Property Type: Single Family
    MLS Number: WS21034740
    Community: 648 - Pasadena (SE)
    Status: Active


    Great opportunity to own in this beautiful city of East Pasadena! This home features 2 bedrooms, 2 bathrooms and sits on an over 5,300SF lot. The single story home also features a formal living room, a family room with a decorative fireplace along with a dry bar and a formal dining room. The large kitchen has an island with countertop seating and lots of cabinets for storage! The 2 spacious bedrooms have large closets and the master bathroom has a shower stall. Stepping out to the back you will find a large swimming pool and hot tub, along with a stand up shower and built in BBQ. There's also an additional storage room built in the back. The garage has been converted to an office, but can easily be converted back to a single car garage. The driveway is large enough to hold multiple cars. very convenience location, 11mins to Caltech,PCC, 5 mins to the grocery market.

    Listed with WILLA LARA CalDRE: 01399832, UHOUZZ CALIFORNIA INC.


    Brought to you by Irina Netchaev, Pasadena Views Real Estate Team Inc. Call me today at 626-627-7107, or visit my website at www.pasadenaviews.com/free-home-search/!


Prior Real Estate Market Reports for Pasadena California

April 2011

Pasadena California Real Estate Statistics April 2011

Pasadena Real Estate Market Overview – 2009 vs 2010

As we start a new year, it’s always interesting to look at year over year data to see the trends in real estate activities.

Media keeps regurgitating national statistics and I get constant calls from my mom in panic that the real estate market is crashing.  🙂  So… let’s look at a few of the critical local stats.

  • The volume of home sales was definitely down in 2010.  662 homes were sold in 2010 vs 775 in 2009 – a 17% reduction in inventory.
  • The average sales price, however, went up by almost 6% from $755,626 in 2009 to $803,296 in 2010.
  • Foreclosures have been on everyone’s mind.  I’ve been talking about shadow foreclosure inventory for awhile now.  However, there were only 31 sales in 2010 compared to 21 sales in 2009.  Most REOs that sell are in the lower price point with the average sales price $441,909 for 2010.
  • Investors are out in force.  58% of all single family home short sale that successfully closed escrow were purchase for ALL cash.
  • Only 1 in 4 properties that were being sold in a short sale process closed escrow.

Sold Pasadena Real Estate Market Statistics:

Data is based on information from the Pasadena Foothill Association of Realtors ITEC MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate.

2010 2009 % Chg
Single Family Homes
Volume 662 775 -17.1%
Price/Sq. Ft. $390 $383 1.8%
Ave Sales Price $803,296 $755,626 5.9%
Days on Market 69 70 -1.4%
Size/Sq. Ft. 1,986 1,924 3.1%
REO Volume 51 50 2.0%
Short Sales Volume 27 12 55.6%
Condos & Townhomes
Volume 416 463 -11.3%
Price/Sq. Ft. $360 $351 2.5%
Ave Sales Price $482,987 $455,724 5.6%
Days on Market 81 83 -2.5%
Size/Sq. Ft. 1,333 1,301 2.4%
REO Volume 31 21 32.3%
Short Sales Volume 27 12 55.6%

Pasadena’s Single Family Homes – Real Estate report for August 2010

When we are looking at Pasadena home sales data for August 2010, please keep in mind that most of these homes have actually went under contract sometime in June or July.  Hot summer months – in more ways than one.  Yes… it was hot.  🙂  But, for real estate purposes, this is also the busiest home selling activity.

Many Pasadena home buyers take advantage of vacation time or kids being out of school to go shopping for their next home.

August in itself, had the lowest number of new home listings in Pasadena at only 77 comparing to close to 100 in the previous months.

The lowest priced home for sale listed in Pasadena was $220,000.

The highest priced home for sale listed in Pasadena was $6,650,000

Pasadena Single Family Home Sales statistics:

Single Family Residence May-10 Jun-10 Jul-10 Aug-10
New Listings 96 97 100 77
Total Listings 310 308 342 282
Sales Pending 87 90 84 50
Homes Sold 70 76 73 50
Listings Expired 25 29 33 46
Average Days on the Market 59 58 68 68
Average Price Per Sq. Ft. $378 $401 $373 $388
Median Selling Price $548,000 $687,000 $668,000 $565,000
Average Selling Price $620,090 $862,668 $825,831 $823,022
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 19.2 17.6 20.3 24.4

Let’s take a look at the actual Pasadena home sales prices by area:

South West Pasadena

Average price per square foot for homes in the South West Pasadena neighborhood increased by 40.3% from August 2009 to August 2010 from $423 per sq. ft. to $593 per sq. ft.

The South West Pasadena homes also sold 54% faster in the same span of time.  The average time on the market for these homes in August 2009 was 93 and in August 2010 was 43 days.

On average the homes in South West Pasadena sold at 98% of list price.

See all Pasadena South West homes for sale here.  These home listings are updated “real time”.

READ THE FULL POST ON PASADENA REAL ESTATE 2010 SUMMER STATISTICS HERE

Pasadena real estate housing statistics for January 2010

In reviewing the numbers of home sales in Pasadena California for January 2010 and comparing it to January 2009, the stats that jump out at me are:

Pasadena Single Family Houses for Sale

  • The inventory is a bit lower and it takes a lot less time to sell a home in Pasadena this year than last.
  • Price per square foot of sold homes is actually higher this year than last.
  • Even though there’s less inventory, almost twice as many units sold in January of this year than last.
  • And, fewer home listings expired.

Pasadena Condos for Sale

  • Again less inventory this year, but significantly higher number of sales – in January of 2009, only 5 condos sold and 33 in January of 2010.
  • Price per sq. ft. of sold condos is a bit lower at $367 vs. $379
  • Absorption rate is only 19.6 weeks in 2010 vs 158 weeks in 2009

Pasadena Townhouses for Sale

  • A lot more new townhome listings this January than last year.  However, the total number of units is consistent at 67.
  • Only 4 townhomes sold in January of 2010 vs 11 in 2009
  • Price per square foot is significantly higher and is over $400.  This is most likely driven by a small number of sales.  That number will come down in February as volume of sales rises.
Single Family Residence Jan-09 Nov-09 Dec-09 Jan-10
New Listings 81 53 45 67
Total Listings 239 226 204 207
Sales Pending 31 67 65 61
Homes Sold 28 69 68 48
Listings Expired 48 36 53 22
Average Days on the Market 130 67 84 87
Average Price Per Sq. Ft. $333 $368 $330 $355
Median Selling Price $505,000 $620,000 $810,000 $531,500
Average Selling Price $548,981 $714,001 $729,829 $664,954
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 37.0 14.2 13.0 18.7
Condos Jan-09 Nov-09 Dec-09 Jan-10
New Listings 44 24 23 56
Total Listings 183 172 143 149
Sales Pending 2 35 29 33
Condos Sold 5 29 31 33
Listings Expired 24 17 24 37
Average Days on the Market 113 86 67 79
Average Price Per Sq. Ft. $379 $377 $369 $367
Median Selling Price $207,450 $485,000 $398,000 $413,000
Average Selling Price $427,950 $491,121 $474,298 $414,088
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 158.6 25.7 20.0 19.6
Townhomes Jan-09 Nov-09 Dec-09 Jan-10
New Listings 8 14 11 26
Total Listings 67 67 54 67
Sales Pending 6 23 12 2
Townhomes Sold 11 15 27 4
Listings Expired 8 4 20 0
Average Days on the Market 115 59 67 65
Average Price Per Sq. Ft. $349 $397 $373 $421
Median Selling Price $ 462,500 $   520,000 $   545,000 $   503,500
Average Selling Price $ 436,991 $   539,267 $   585,007 $   504,250
Absorption Rate (# of weeks to sell current inventory at present rate of sales) 26.4 19.4 8.7 72.6

Year To Date Pasadena Real Estate Market Statistics:

[altos_chart st=”CA” cid=”1994″ zid=”2894335″ rt=”sf,mf” ra=”a” q=”a” left=”median_price” size=”m” timeSpan=”e” endDate = “2009-11-20” /] [altos_chart st=”CA” cid=”2018″ zid=”2898911″ rt=”sf,mf” ra=”a” q=”a” left=”median_per_sqft” size=”m” timeSpan=”e” endDate = “2009-11-20” /]

July 2009 Real Estate Market Report:

Pasadena Ave price per sq ft and sold prices July 2008 - 2009
See the latest Pasadena Real Estate Market and Housing Report for housing trends as of August 2009.

As expected, the volume of sales has increased dramatically from April to May.

Pasadena home sales increased by 20% from April and homes under contract are 23% higher.  Average selling price increased a bit as well.  Close to 100 new home listings came up on the market, but the inventory is still a bit under 300 homes.

Here’s a chart from Altos Research group with the historical look at Median prices of Pasadena homes:

Medium Chart

As I published March 2009, Pasadena Real Estate Market Housing statistics and report, there were several key points that jumped out at me when I looked at the numbers:

1. The housing inventory is falling in every category – Pasadena homes, Pasadena condos and Pasadena townhomes. In a normal real estate market the inventory will pick up as we get closer to spring and summer months. The number of newly listed Pasadena properties stays the same, but the number of Pasadena home sales almost doubled in March 2009.

2. Absorption Rate – a key real estate statistic – is significantly lower for each of the tracked categories. Absorption rate is an indicator that sellers use to anticipate how long it will take to market their homes for sale. For example, looking at Pasadena single family homes, a Pasadena home seller should understand that if the rate of sales and current inventory remains the same, it will take them on average 21.7 weeks to sell their home. That’s a significant drop in home marketing time from 35.7 and shows a trend towards getting back to a more balanced real estate market.

3. The most significant change in pricing is seen at the Pasadena condo level. Now is the time to get excellent Pasadena condo deals. The price per square foot on a Pasadena condo is at an all time low of $315 per sq. ft. Take a look at Pasadena’s real estate market analysis for the last five years and you’ll see that we’re back to 2003 price levels.

Read the full Pasadena Real Estate Market Report for March 2009 here.

Real estate market Pasadena California statistics for January and February 2009:

nventory of Pasadena homes each month for both January and February almost doubled from December of 2008.  More homes are available for sale and more homes are selling.  February 2009 ended the month with 37 Pasadena homes sold and 57 homes under contract.  This is very much in line with what I’ve been seeing with my clients.  A lot of offers are being placed on homes and once again we are seeing multiple offers in homes under $500,000.  It’s also interesting to note that single family residences (SFR) in Pasadena sold a bit over 97% of asking price.

The number of available Pasadena condos for sale doubled as well from the end of 2008.  A huge increase in the number of Pasadena condos under contract from last year was seen in the month of February.  This doesn’t surprise me since condos have experienced a more significant price drop.  I was able to help my buyers purchase a condo last month in the South Lake Avenue district just steps from Macy’s for only $249,500.  And the price included a seller concession of an additional $7,500 towards closing costs.  Quite frankly, this type of purchase was impossible only a few months ago.

READ MORE:  Complete statistics and inventory for Pasadena housing – beginning of 2009

Pasadena real estate market report for December 2008:

December has been uneventful for Pasadena’s real estate market. Inventory of homes and condos dropped from last several months to 250 homes and 158 condos. While the number of available Pasadena townhomes for sale increased to 76 units.

Since, there was an increase in the number of homes sold and the number of Pasadena sellers that decided to take their homes off the market, absorption rate dropped dramatically.

I expect that we will see a lot more Pasadena property listings hit the market in January since many home sellers wait until after the holidays to list their Pasadena home for sale. I also expect banks to start releasing foreclosures that they’ve been holding on to for book keeping purposes.

While prices have been basically flat over the last several weeks, the price per square foot has been heading downward. While not a sign of broad strength in a market, larger homes are becoming more available and Pasadena buyers are tending to get more home for their money.

Read More:  Complete statistiscs for Pasadena real estate – December 2008

Interested in searching for Pasadena homes and condos for sale?  Here’s a list of all available properties including foreclosures:

Pasadena Real Estate Market Statistics for October 2008 through December 2008:

Single
Family Residence
Oct-08 Nov-08 Dec-08
New
Listings
72 56 46
Total
Listings
303 261 250
Sales
Pending
61 29 40
Homes Sold 71 42 69
Listings
Expired
54 53 83
Average Days
on the Market
141 115 102
Average
Price Per Sq. Ft.
$411 $402 $373
Average
Selling Price
$811,092 $699,591 $760,146
Median
Selling Price
$620,000 $445,750 $560,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
18.5 26.9 15.7
Condos Oct-08 Nov-08 Dec-08
New
Listings
43 39 26
Total
Listings
165 159 158
Sales
Pending
26 7 22
Homes Sold 31 17 19
Listings
Expired
16 27 29
Average Days
on the Market
135 110 60
Average
Price Per Sq. Ft.
$401 $377 $355
Average
Selling Price
$442,758 $428,641 $410,363
Median
Selling Price
$415,000 $455,000 $380,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
23.1 40.5 36.0
Townhomes Oct-08 Nov-08 Dec-08
New
Listings
12 27 20
Total
Listings
68 68 76
Sales
Pending
3 10 13
Homes Sold 15 5 14
Listings
Expired
10 5 26
Average Days
on the Market
72 36 116
Average
Price Per Sq. Ft.
$347 $426 $351
Average
Selling Price
$
544,820
$
604,600
$540,214
Median
Selling Price
$
519,900
$
575,000
$465,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
19.6 58.9 23.5

Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service)

Read More: going into escrow in October.

Pasadena real estate market report for October 2008:

Pasadena’s real estate inventory of homes has decreased in October to 127 units overall – inclusive of single family residences, condos and townhomes. It is not surprising as folks are getting ready for the holiday season and in the natural annual cycle of real estate, we expect to see less inventory to choose from. The sales have closed strongly in October at 117 units. Next month, we will see a marked decrease in this number as evidenced by the decline in the

This month, I was able to catpure the median Pasadena home sales price and will be adding that information to all future reports. Median home sales prices provide a more accurate picture since the median signifies that 50% of Pasadena homes sold for more and 50% of these homes sold for less. Hope that you will find it useful.

Market Action Indicator for Pasadena’s real estate is currently in the buyer’s zone though not strongly so. The 90-day Market Action Index stands this week at 22 so buyers should expect find reasonable levels of selection. Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

market-action-index-october-20081

The highest sold home in Pasadena for October was at 485 South Grand Avenue, a 4 bedroom/4 bath luxury estate with 6,000 sq. ft. on a 24,345 sq. ft. lot which sold for $4,300,000 at 95.56% of its asking price.

The lowest sold home in Pasadena for October was 476 East Mountain Street, a 1 bedroom and 1 bath with 624 sq. ft of a 2,580 sq. ft. lot whcihc sold for $233,000. This home sold over its original asking price of $226,900.

Overall, October’s single family residences sold at 95.20% of their asking price.

Housing Market Statistics for Pasadena California for August 2008 through October 2008:

Single
Family Residence
Aug-08 Sep-08 Oct-08
New
Listings
80 78 72
Total
Listings
325 341 303
Sales
Pending
43 95 61
Homes Sold 69 59 71
Listings
Expired
36 59 54
Average Days
on the Market
133 115 141
Average
Price Per Sq. Ft.
$407 $396 $411
Average
Selling Price
$923,986 $751,228 $811,092
Median
Selling Price
$657,000 $655,000 $620,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
20.4 25.0 18.5
Condos Aug-08 Sep-08 Oct-08
New
Listings
31 46 43
Total
Listings
136 156 165
Sales
Pending
9 38 26
Homes Sold 27 21 31
Listings
Expired
22 35 16
Average Days
on the Market
115 121 135
Average
Price Per Sq. Ft.
$397 $445 $401
Average
Selling Price
$515,896 $459,540 $442,758
Median
Selling Price
$399,500 $350,000 $415,000
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
21.8 32.2 23.1
Townhomes Aug-08 Sep-08 Oct-08
New
Listings
11 16 12
Total
Listings
57 69 68
Sales
Pending
6 18 3
Homes Sold 13 15 15
Listings
Expired
4 12 10
Average Days
on the Market
111 130 72
Average
Price Per Sq. Ft.
$385 $358 $347
Average
Selling Price
$
597,477
$
512,933
$
544,820
Median
Selling Price
$
539,000
$
500,000
$
519,900
Absorption
Rate (# of weeks to sell
current inventory at present rate of sales)
19.0 19.9 19.6

Data compiled from ITEC (Pasadena Foothill Association Multiple Listing Service).

Pasadena Single Family Homes for Sale:

[idx-listings linkid=”58687″ count=”500″]

Pasadena Condos for Sale

[idx-listings linkid=”58694″ count=”500″]

Pasadena Townhomes for Sale

[idx-listings linkid=”67690″ count=”300″]

Pasadena Income Property for Sale

[idx-listings linkid=”67691″ count=”500″]