Pasadena Market Update | Q1 2014

La Canada-Flintridge, CA | web: 0277059

Pasadena Market Update First Quarter 2014 pasadena Brokerage 459 East Colorado Boulevard Pasadena, CA 91101 t. 626.229.0909

sothebyshomes.com/pasadena

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

A MESSAGE FROM OUR MANAGER: Jeff Maynard I am pleased to report that in the first quarter of 2014, all five areas in this market update – Pasadena, La Canada-Flintridge, Altadena, San Marino and South Pasadena – enjoyed a steady increase in their average sales prices according to the Pasadena Foothills Association Of Realtors ITEC Multiple Listing Service. The number of units sold in Pasadena and Altadena was down just a bit, while San Marino, La Canada Flintridge and South Pasadena were up. If we had enjoyed more inventory of homes to sell, the unit numbers for the MLS could have been much better as demand is still very high, especially from foreign buyers. If you are thinking of selling your home, now is an incredible market to take advantage of. Due to low inventory and decreased days on the market, many of our sellers during Q1 2014 enjoyed multiple offers from buyers, which escalated the sales price well above the original asking price. January, February and March numbers were up significantly from 2013 and as always, we appreciate providing you with the utmost in real estate services.

featured listings

Pasadena | Web ID: 0277193 | $1,689,000 Pasadena Brokerage | Kaki Allan | 626.396.3939

South Pasadena | Web ID: 0277124 | $1,318,000 Pasadena Brokerage | Diane Lasell | 626.396.3932

Pasadena | Web ID: 0277171 | $1,299,000 Pasadena Brokerage | Fleming Helmstadter | 626.396.3933

Pasadena | Web ID: 0277167 | $1,245,000 Pasadena Brokerage | Deno Kidde | Wendy Crowley| 626.396.6816

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks used with permission. Operated

by Sotheby’s International Realty, Inc. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Real estate agents affiliated with Sotheby’s International Realty, Inc. are independent contractor sales associates and are not employees of Sotheby’s International Realty, Inc.

five years of Average selling Prices | q1 $3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$2010

2011 Altadena

2012

La Canada

Pasadena

2013 San Marino

2014

South Pasadena

AVerage Sale Price | Total SFH Sold | q1 300

$1,000,000 $900,000

250

$800,000 $700,000

200

$600,000

150

$500,000

Pasadena

$400,000

100

$300,000

Pasadena is a world-class model of a successful urban community, and its distinctive quality of life is exemplified by its unparalleled beauty, culture

$200,000

50

$100,000

0

$-

and diversity. It is home to many scientific and

2010

cultural institutions.

single family homes | Q1 units sold

2011

2012

Average Selling Price

2010

2011

2012

2013

2014

Units Sold

2013

2014

157

199

257

194

177

Average selling Price

$669,928

$702,130

$627,711

$771,886

$878,291

average listing price

$704,902

$754,555

$668,244

$784,630

$895,465

95%

93%

94%

98%

98%

$560,000

$565,000

$455,000

$612,500

$680,000

83

87

91

64

64

discount median average days on market

sothebyshomes.com/pasadena

AVerage Sale Price | Total SFH Sold | q1 $700,000

140

$600,000

120

$500,000

100

$400,000

80

Sited between the Arroyo Seco and Eaton Canyon,

$300,000

60

Altadena is rich in architecture and cultural

$200,000

40

heritage with its community’s unique qualities.

$100,000

20

altadena

Significant home styles from modest Craftsman

0

$-

bungalow to Italianate mansion and Modernist

2010

2011

gems are present.

2012

Average Selling Price

single family homes | Q1

2010

units sold

2011

2012

2013

2014

Units Sold

2013

2014

52

68

77

116

79

Average selling Price

$532,633

$516,299

$476,092

$554,169

$641,100

average listing price

$546,705

$549,622

$507,383

$557,226

$652,471

discount median

97%

94%

94%

99%

98%

$462,500

$429,950

$428,000

$485,000

$539,000

82

75

73

59

53

average days on market

AVerage Sale Price | Total SFH Sold | q1

san marino San Marino has designed its community to be uniquely residential, with expansive properties, surrounded by beautiful gardens with wide streets, and well maintained parkways. This best exemplifies the charm and character that make

$3,000,000

30

$2,500,000

25

$2,000,000

20

$1,500,000

15

$1,000,000

10

$500,000

5 0

$2010

2011

the City an enjoyable place to live and work.

single family homes | Q1 units sold

2012

Average Selling Price

2010

2011

2012

2013

2014

Units Sold

2013

2014

19

20

22

20

26

Average selling Price

$1,976,575

$1,673,055

$1,926,136

$1,934,700

$2,429,876

average listing price

$2,131,211

$1,781,100

$1,982,045

$1,921,894

$2,294,265

93%

94%

97%

101%

106%

$1,420,000

$1,575,000

$1,713,000

$1,464,000

$2,200,000

77

74

93

55

47

discount median average days on market

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

AVerage Sale Price | Total SFH Sold | q1 $1,800,000

60

$1,600,000

50

$1,400,000 $1,200,000

la cañada flintridge

40

$1,000,000

La Cañada Flintridge is a small and affluent city

$800,000

in Los Angeles County nestled between the San

$600,000

Gabriel Mountains and Angeles National Forest

$400,000

on the north, and the San Rafael Hills on the

$200,000

south. The city is home to Descanso Gardens

30 20 10

$-

0 2010

and NASA’s Jet Propulsion Laboratory.

2011

2012

Average Selling Price

single family homes | Q1

2010

units sold

2011

2012

2013

2014

Units Sold

2013

2014

33

40

44

47

52

Average selling Price

$1,243,486

$1,205,900

$1,155,007

$1,416,373

$1,679,190

average listing price

$1,424,216

$1,276,341

$1,251,044

$1,472,499

$1,741,417

discount median

87%

94%

92%

96%

96%

$1,049,000

$1,052,500

$911,000

$1,200,000

$1,415,000

108

86

87

91

72

average days on market

AVerage Sale Price | Total SFH Sold | q1 $1,200,000

35

$1,000,000

30 25

$800,000

south pasadena

20 $600,000 15

South Pasadena is known for its tree-lined streets, historic California Craftsman-style homes and unique small businesses. This

$400,000

10

$200,000

small town atmosphere makes the city one of California’s most desirable locations and

5 0

$2010

prides itself on its small town character.

single family homes | Q1 units sold

2011

2012

Average Selling Price

2010

2011

2012

2013

2014

Units Sold

2013

2014

24

22

31

21

30

Average selling Price

$858,898

$995,858

$822,409

$899,714

$978,685

average listing price

$883,928

$1,028,027

$876,094

$920,981

$958,647

97%

97%

94%

98%

102%

$802,000

$875,000

$715,000

$879,000

$912,500

59

50

83

56

49

discount median average days on market

sothebyshomes.com/pasadena

On tHe MarKet

left to right from top to bottom:

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