Q1 2019 | Pasadena Market Update

Q1 | 2019

Pasadena

Market Update

LA CANADA FLINTRIDGE SMART HOME

Offered at $2,595,000 4735lacanadablvd.com

LA CANADA FLINTRIDGE SMART HOME, Interior View

a message from

Michael Williamson Pasadena Brokerage Manager

It is my pleasure to present the Greater Pasadena Market Update for the first quarter of 2019. 2019 started with fewer sales, increasing inventory, and prices falling by 2% compared to Q1 2018.

According to the Flex MLS, average days on the market for homes in the Greater Pasadena area increased 15.2%, from 52 days compared to 45 days the year prior. The number of homes sold in Q1 2019 decreased 9%, from 499 homes sold compared to 550 homes sold in Q1 2018. More than half of the homes sold in the first quarter of 2019 were priced between $1M and $3M, with San Marino leading the way with an average sales price of $2.6M. Altadena and Pasadena showed an increase in average sales price by 4% and 5%, respectively.

Since our brokerage opened in Pasadena in 2009, Sotheby’s International Realty has had a white gloved finger on the pulse of the real estate market. The Sotheby’s International Realty - Pasadena Brokerage is uniquely well-positioned to service the needs of discriminating buyers and sellers.

While Sotheby’s International Realty has offices around the world in 72 countries and territories, here in Pasadena, we serve the entire community including Altadena, Arcadia, La Canada Flintridge, San Marino, Sierra Madre and South Pasadena. Our mission is simple: to pair exceptional properties with clients while offering superior service. I hope that you enjoy exploring our quarterly market update and I invite you to discover more information online at sothebyshomes.com. If Sotheby’s International Realty can be of service to you in the sale or purchase of property in California or anywhere else, please call me at 626.396.6801 so that I may personally introduce you to one of our local and global advisors.

sothebyshomes.com/pasadena

dre

email

phone

824452

michael.williamson@sothebyshomes.com

626.396.6801

All data within this document is pulled from Flex MLS and represents the sale of single family homes.

LANGHAM HOTEL CLASSIC TRADITIONAL | PASADENA

Offered at $5,000,000 1409hillcrest.com

Featured Properties We invite you to explore our exclusive offerings at S OT H E BYS H OM E S.C OM/PASADENA

PASADENA

Offered at $1,998,000 929mesaverde.com SAN GABRIEL

Offered at $1,790,000 458ncalifornia.com LA CANADA FLINTRIDGE

Offered at $1,680,000 meadowviewlacanada.com PASADENA

Offered at $1,398,000 605oakknoll.com *in order from left to right, top to bottom

sothebyshomes.com/pasadena

5

/ Featured Properties / Pasadena Q1 Market Update

Market Snapshot All Pasadena | Q1 2019

$5M and $3M - Up $5M

$1,600,000

700

$1,400,000

600

$1,200,000

Below $1M

500

$1,000,000 400 $800,000 300 $600,000 200

$400,000

$1M-$3M

100

$200,000 $-

0

2015 2016 2017 2018 2019

Total Volume

by Price Point 26 % 59 % 6% 8%

Average Selling Price vs. Total Units Sold

Under $1 Million

Average Selling Price

$1 – 3 Million

Total Units Sold

$3 – 5 Million $5+ Million

All data within this document is pulled from the Pasadena MLS and encompasses Pasadena, San Marino, South Pasadena, Altadena, Arcadia, Sierra Madre, Glendale, San Gabriel and La Canada Flintridge.

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. 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. Equal housing opportunity.

Comparison

by City Altadena Arcadia Glendale La CaĂąada Flintridge Pasadena San Gabriel San Marino Sierra Madre South Pasadena

$3,000,000

$2,500,000

$2,000,000

$1,500,000

$1,000,000

$500,000

$-

Altadena Arcadia Glendale La Canada Pasadena San Flintridge Gabriel

San Marino

Sierra Madre

South Pasadena

Average Selling Price

Altadena

Pasadena

Arcadia

San Gabriel

Glendale

San Marino

La CaĂąada Flintridge

Sierra Madre

7

South Pasadena

/ Market Snapshot / Pasadena Q1 Market Update

at a glance {Q1 | 2019}

altadena

+4

%

Change in Average Selling Price {2019 v 2018}

-16

%

Change in Units Sold {2019 v 2018}

68 Units Sold

1m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,200,000

90 80

$1,000,000

70

$800,000

60 50

$600,000

40

$400,000

30 20

$200,000

10

$-

0

2015

2016

2017

2018

2019

Average Selling Price

Total Units Sold

About

Altadena Sited between the Arroyo Seco and Eaton Canyon, Altadena is rich in architecture and cultural heritage with its community’s unique qualities. Significant home styles from modest Craftsman bungalow to Italianate mansion and Modernist gems are present. sothebyshomes.com/pasadena

Average Median Discount Total Selling Price Selling Price Ratio Units

Average Days on Market

4%

2%

-

-16%

20%

2019

$977,775

$850,000

2.4%

68

36

2018

$944,015

$830,000

0.7%

81

30

2017

$866,758

$769,000

-1.0%

81

52

2016

$838,113

$710,000

-1.8%

71

51

2015

$720,659

$629,500

-2.4%

84

59

Q1 {2019 v 2018}

Change

9

/ Altadena / Pasadena Q1 Market Update

|

Average Selling Price Total Units Sold $1,850,000

100

$1,800,000

90

$1,750,000

80

$1,700,000

70

$1,650,000

60

$1,600,000

50

$1,550,000

40

$1,500,000

30

$1,450,000

20

$1,400,000

10

$1,350,000

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

Arcadia Home to the Los Angeles County Arboretum and Botanic Garden, this “green space� city is largely populated by California Live Oak trees. It is no accident that Arcadia is referred to as a jewel among southern California communities. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

-12%

-10%

-

-12%

18%

2019

$1,572,655

$1,345,000

-25.5%

68

69

2018

$1,781,324

$1,490,000

-85.7%

77

59

2017

$1,676,883

$1,364,000

-6.0%

88

52

2016

$1,522,345

$1,205,000

-8.4%

86

59

2015

$1,606,261

$1,300,000

-6.7%

82

57

Pasadena Q1 Market Update / Arcadia / 10

at a glance {Q1 | 2019}

arcadia

-12

%

Change in Average Selling Price {2019 v 2018}

-12

%

Change in Units Sold {2019 v 2018}

68 Units Sold

1.6m

$

Average Selling Price

at a glance {Q1 | 2019}

GLENDALE

-5

%

Change in Average Selling Price {2019 v 2018}

-6

%

Change in Units Sold {2019 v 2018}

79 Units Sold

1.1m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

160

$1,200,000

140 120

$1,000,000

100

$800,000

80 $600,000

60

$400,000

40

$200,000

20

$-

0

2015

2016

2017

2018

2019

Average Selling Price

Total Units Sold

About

Glendale Glendale, filled with tree-lined streets, is located at the junction of the San Fernando and the San Gabriel Valleys. Popular with celebrities and the entertainment industry, Glendale is located minutes away from downtown Los Angeles and Pasadena. sothebyshomes.com/pasadena

Average Median Discount Total Selling Price Selling Price Ratio Units

Average Days on Market

-5%

2%

-

-6%

-3%

2019

$1,112,272

$1,075,000

-2.3%

79

49

2018

$1,164,817

$1,050,000

-1.5%

84

51

2017

$995,607

$890,000

-2.1%

135

53

2016

$927,427

$820,000

-3.6%

121

52

2015

$786,576

$740,000

-93.3%

117

54

Q1 {2019 v 2018}

Change

13

/ Glendale / Pasadena Q1 Market Update

|

Average Selling Price Total Units Sold $2,500,000

60 50

$2,000,000

40 $1,500,000 30 $1,000,000 20 $500,000

10

$-

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

La Cañada Flintridge La Cañada Flintridge is a small and affluent city in Los Angeles County nestled between the San Gabriel Mountains and Angeles National Forest on the north, and the San Rafael Hills on the south.

The city is home to Descanso Gardens and NASA’s Jet Propulsion Laboratory. sothebyshomes.com/pasadena

Average Median Discount Total Selling Price Selling Price Ratio Units

Average Days on Market

-15%

-23%

-

0%

82%

2019

$1,836,095

$1,525,000

-16.7%

32

53

2018

$2,166,398

$1,971,250

0.0%

32

29

2017

$2,198,563

$1,839,000

0.8%

52

44

2016

$1,748,032

$1,580,000

-3.2%

52

53

2015

$1,865,767

$1,550,000

-2.2%

35

54

Q1 {2019 v 2018}

Change

Pasadena Q1 Market Update / La Canada Flintridge / 14

at a glance {Q1 | 2019}

la caĂąada flintridge

-15

%

Change in Average Selling Price {2019 v 2018}

0

%

Change in Units Sold {2019 v 2018}

32 Units Sold

1.8m

$

Average Selling Price

at a glance {Q1 | 2019}

PASADENA

+5

%

Change in Average Selling Price {2019 v 2018}

-3

%

Change in Units Sold {2019 v 2018}

150 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,400,000

250

$1,200,000

200

$1,000,000 150

$800,000 $600,000

100

$400,000 50

$200,000 $-

0

2015

2016

2017

2018

2019

Average Selling Price

Total Units Sold

About

Pasadena Pasadena is a world-class model of a successful 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. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

5%

-3%

-

-3%

8%

2019

$1,294,931

$970,000

-8.8%

150

48

2018

$1,232,919

$997,500

-3.2%

154

45

2017

$1,166,035

$837,750

-2.1%

178

55

2016

$957,944

$790,000

-1.2%

179

51

2015

$1,026,800

$760,000

-42.2%

194

62

17

/ Pasadena / Pasadena Q1 Market Update

|

Average Selling Price Total Units Sold $860,000

60

$840,000

50

$820,000 40

$800,000 $780,000

30

$760,000

20

$740,000 10

$720,000 $700,000

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

San Gabriel The city of San Gabriel, named after the Mission San Gabriel Arcรกngel in 1852, boasts a powerful and far-reaching history in California. It is known today as a center for culture and art. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

-9%

-10%

-

-35%

56%

2019

$766,649

$720,000

-3.6%

35

58

2018

$846,488

$803,500

-0.4%

54

37

2017

$776,129

$711,000

-2.1%

54

56

2016

$834,832

$770,000

-95.7%

43

57

2015

$757,379

$679,100

-2.4%

48

36

Pasadena Q1 Market Update / San Gabriel / 18

at a glance {Q1 | 2019}

SAN GABRIEL

-9

%

Change in Average Selling Price {2019 v 2018}

-35

%

Change in Units Sold {2019 v 2018}

35 Units Sold

770k

$

Average Selling Price

at a glance {Q1 | 2019}

san marino

+4

%

Change in Average Selling Price {2019 v 2018}

0

%

Change in Units Sold {2019 v 2018}

23 Units Sold

2.6m

$

Average Selling Price

|

Average Selling Price Total Units Sold $3,000,000

35

$2,900,000

30

$2,800,000

25

$2,700,000

20

$2,600,000 15

$2,500,000

10

$2,400,000 $2,300,000

5

$2,200,000

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

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 the City an enjoyable place to live and work. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

4%

-2%

-

0%

15%

2019

$2,606,874

$2,350,000

-1.1%

23

89

2018

$2,496,861

$2,400,000

-1.6%

23

77

2017

$2,776,736

$2,630,000

-5.8%

25

68

2016

$2,771,924

$1,952,500

-5.7%

32

75

2015

$2,952,404

$2,237,500

-1.2%

22

50

21

/ San Marino / Pasadena Q1 Market Update

|

Average Selling Price Total Units Sold $1,200,000

30

$1,150,000

25

$1,100,000

20

$1,050,000 15 $1,000,000 10

$950,000 $900,000

5

$850,000

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

Sierra Madre Called The Village of the Foothills, Sierra Madre is home to approximately 11,000 residents who enjoy the wonderful serene neighborhoods and delightful downtown shopping district. Located between Pasadena and Arcadia, this town is full of charm. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

-6%

1%

-

-30%

-38%

2019

$967,961

$950,000

-0.9%

16

36

2018

$1,034,402

$945,000

-89.2%

23

58

2017

$1,149,121

$1,145,000

-3.9%

19

62

2016

$1,130,722

$1,114,000

-1.2%

18

35

2015

$972,196

$923,500

-2.2%

24

33

Pasadena Q1 Market Update / Sierra Madre / 22

at a glance {Q1 | 2019}

sierra madre

-6

%

Change in Average Selling Price {2019 v 2018}

-30

%

Change in Units Sold {2019 v 2018}

16 Units Sold

970k

$

Average Selling Price

at a glance {Q1 | 2019}

south pasadena

-22

%

Change in Average Selling Price {2019 v 2018}

27

%

Change in Units Sold {2019 v 2018}

28 Units Sold

1.3m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,800,000

30

$1,600,000

25

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

20

$1,000,000

15

$800,000 $600,000

10

$400,000

5

$200,000 $-

0

2015

2016

2017

2018

Average Selling Price

2019 Total Units Sold

About

South Pasadena South Pasadena is known for its tree-lined streets, historic California Craftsman-style homes and unique small businesses. This small town atmosphere makes the city one of California’s most desirable locations and prides itself on its small town character. sothebyshomes.com/pasadena

Q1

Average Median Discount Total Average Days Selling Price Selling Price Ratio Units Sold on Market

{2019 v 2018}

Change

-22%

-22%

-

27%

48%

2019

$1,337,321

$1,332,500

-0.1%

28

49

2018

$1,714,273

$1,700,000

5.2%

22

33

2017

$1,553,482

$1,430,000

-1.7%

19

42

2016

$1,094,120

$1,005,000

-1.6%

22

52

2015

$1,132,095

$948,000

1.3%

22

28

25

/ South Pasadena / Pasadena Q1 Market Update

PASADENA

Georgian Colonial Residence Last asking $2,295,000

Extraordinary Results We celebrate the notable success of our associates and clients

LOS FELIZ

Prime Los Feliz Mediterranean Last asking $4,000,000 SAN MARINO

Stunning Estate with Magical Grounds Last asking $3,950,000 PASADENA

South West Pasadena Traditional Home Last asking $2,275,000 ALTADENA

Classic 1950’s Post and Beam Last asking $1,100,000 *in order from left to right, top to bottom

sothebyshomes.com/pasadena 27

/ Significant Sales / Pasadena Q1 Market Update

UNRIVALED

GLOBAL PERFORMANCE

$112 BILLION ANOTHER RECORD YEAR IN ANNUAL GLOBAL SALES IN 2018

990 22,500 72 OFFICES

AGENTS

COUNTRIES

1 3 OUT OF

OFFICES IS OUTSIDE OF THE UNITED STATES

31 MILLION VISITS TO SOTHEBYSREALTY.COM 13% INCREASE YEAR OVER YEAR

180,000 YOUTUBE SUBSCRIBERS SILVER CREATOR AWARD WINNER

Featured Property:

8191WDRYCREEK.COM | HEALDSBURG, CA 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. 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.