Issuu on Google+

MARKET UPDATE | Q4 2013 pasadena five years of Average selling Prices | q4 $2,500,000

$2,000,000

$1,500,000

$1,000,000

A MESSAGE FROM OUR MANAGER: Jeff Maynard In the fourth quarter of 2013, four of the five areas in this market update – Pasadena, Altadena, San Marino and South Pasadena – enjoyed an increase in their average sales price leaving La Canada as the only area that cooled just a bit. Even though average sales price increased in most areas, the units sold in four of the five market areas were lower, with San Marino as the only area with a slight increase from the fourth quarter of 2012.

$500,000

$2009

2010 Altadena

La Canada

2011 Pasadena

2012 San Marino

2013

South Pasadena

Pasadena About the Area Pasadena is a world-class model of a successful

The story these multiple listing service numbers tell is one of supply vs. demand. These real estate markets had tremendous demand, but needed more homes to sell which is reflected in the volume drop from 2012 to 2013 in most areas. Many sellers during this time period enjoyed multiple offers from buyers, which often caused buyers to bid well over the asking price in an effort to beat out their competition.

urban community, and its distinctive quality of life is exemplified by its unparalleled beauty, culture and diversity. It is home to many scientific and cultural institutions.

AVerage Sale Price | Total SFH Sold | q4 350

$1,000,000 $900,000

The demand from foreign buyers has remained steady throughout the year for our area. The greater Pasadena area has always benefited from its proximity to downtown Los Angeles. With the relocation of the Lakers and the billions of dollars in redevelopment taking place in Los Angeles, our area makes perfect sense for so many to call home.

300

$800,000 $700,000

250

$600,000

200

$500,000 $400,000

150

$300,000

100

$200,000

50

$100,000

0

$-

All data within this document is pulled from the Pasadena MLS.

2009

2010

2011

Average Selling Price

pasadena brokerage 459 East Colorado Boulevard | t. 626.229.0909 sothebyshomes.com/pasadena Jeff Maynard, Vice President/Brokerage Manager 626.229.0909 | jeff.maynard@sothebyshomes.com

single family homes | Q4

2012

2013

Units Sold

2009

2010

2011

2012

2013

Units Sold Average Selling Price

225 $762,852

196 $709,395

188 $674,286

298 $739,716

251 $866,762

Average Listing Price

$848,809

$784,839

$717,740

$800,970

$997,117

Discount % Median

90% $605,000

90% $561,944

94% $554,500

92% $563,750

87% $699,000

Ave DOM

76

96

79

71

52

santa barbara altadena AVerage Sale Price | Total SFH Sold | Q4 $800,000

120

$700,000

100

$600,000 80

$500,000

About the Area Sited between the Arroyo Seco and Eaton Canyon, Altadena is rich in architecture and cultural heritage with its community’s unique

60

$400,000 $300,000

40

$200,000 20

$100,000

0

$-

qualities. Significant home styles from modest

2009

Craftsman bungalow to Italianate mansion and

2010

Average Selling Price

Modernist gems are present.

single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM

2011

2012

2013

Units Sold

2009

2010

2011

2012

2013

105 $577,711 $604,302 96% $532,193

88 $542,329 $570,514 95% $495,000

76 $557,138 $593,741 94% $500,000

107 $601,930 $623,979 96% $510,000

104 $695,144 $692,932 100% $553,250

69

80

75

60

44

san marino AVerage Sale Price | Total SFH Sold | Q4 45

$2,500,000

40 $2,000,000

35 30

$1,500,000

About the Area

25 20

$1,000,000

15

San Marino has designed its community to be uniquely residential, with expansive properties,

10

$500,000

5

surrounded by beautiful gardens with wide $-

streets, and well maintained parkways. This best

0 2009

exemplifies the charm and character that make

2010

Average Selling Price

the City an enjoyable place to live and work.

single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM

2011

2012

2013

Units Sold

2009

2010

2011

2012

2013

38 $1,727,009 $1,826,634 95% $1,595,000

18 $2,213,226 $2,324,833 95% $1,699,440

31 $2,107,945 $2,288,371 92% $1,600,000

33 $1,838,424 $1,835,327 100% $1,550,000

39 $1,998,054 $1,947,641 103% $1,818,000

55

56

88

51

42

Altadena | La Canada | Pasadena | San Marino | South Pasadena

la cañada flintridge AVerage Sale Price | Total SFH Sold | Q4 $1,600,000

70

$1,400,000

60

$1,200,000

50

$1,000,000

40

$800,000 $600,000 $400,000

30

About the Area

20

La Cañada Flintridge is a small and affluent city

10

$200,000

0

$2009

2010

2011

Average Selling Price

single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM

2012

in Los Angeles County nestled between the San Gabriel Mountains and Angeles National Forest on the north, and the San Rafael Hills on the

2013

south. The city is home to Descanso Gardens and

Units Sold

NASA’s Jet Propulsion Laboratory.

2009

2010

2011

2012

2013

54 $1,167,649 $1,275,019 92% $963,000

54 $1,277,369 $1,408,619 91% $1,100,000

33 $1,112,862 $1,185,150 94% $1,000,000

62 $1,504,019 $1,636,173 92% $1,170,000

54 $1,480,328 $1,539,704 96% $1,210,500

108

102

83

75

59

south pasadena AVerage Sale Price | Total SFH Sold | Q4 45

$1,400,000

40

$1,200,000

35

$1,000,000

30

$800,000

25

$600,000

20

About the Area

15

South Pasadena is known for its tree-lined

10

streets, historic California Craftsman-style

5

homes and unique small businesses. This small

0

town atmosphere makes the city one of

$400,000 $200,000 $2009

2010

2011

Average Selling Price

single family homes | Q4 Units Sold Average Selling Price Average Listing Price Discount % Median Ave DOM

2012

2013

California’s most desirable locations and prides

Units Sold

itself on its small town character.

2009

2010

2011

2012

2013

27 $987,714 $1,093,132 90% $849,000

28 $843,865 $875,203 96% $823,750

24 $1,035,592 $1,082,450 96% $896,250

39 $1,074,551 $1,106,874 97% $850,000

31 $1,143,273 $1,144,671 100% $915,000

95

65

62

62

39

sothebyshomes.com/pasadena

ON THE MARKET FEATURED PROPERTIES pasadena, cA

Price: $1,500,000 web: 0277117

LISTINGS AROUND THE WORLD IN THIS PRICE RANGE in metropolitan markets

Houston

New York

San Francisco

4 br / 3 ba / 1 hf ba $1,875,000

1 br / 1 ba $1,645,000

1 br / 1 ba / 1 hf ba $995,000

SANTA FE

PALM BEACH

Santa Ynez

3 br / 3 ba / 1 hf ba $1,375,000

2 br / 2 ba $975,000

3 br / 3 ba $1,795,000

South Africa

Puerto Rico

Australia

5 br / 4 ba / 1 hf ba $1,500,306

4 br / 4 ba / 1 hf ba $1,850,000

2 br / 2 ba Price Upon Request

Agents: Deborah Maxson Best value for this exceptional townhouse. Featured are 3-bedrooms and 4-baths, a den, living room, dining room and much more. The interior is approximatley 3,966 sq.ft. with only three units in complex. Pasadena, cA

in resort markets

in foreign markets

Price: $1,088,000 web: 0276990 Agent: Roberta Baron Escape to your hideaway in the San Rafael Hills. Views to Downtown Pasadena. Move-in ready. Featured are 3-bedrooms and 3-baths.

AT sotheby’s AUCTION

Songye “Four Horn” Community Power Figure The Collection of Allan Stone 15 November, 2013 Estimate: $600,000-$900,000

sothebys.com

The Pink Star Rare English & European Magnificent Jewels 13 November, 2013 Sold: $84,730,214.30


Pasadena Market Update Q4 2013