Page 1

Q3 | 2018

Pasadena

Market Update

HERBERT COPPELL ESTATE DESIGNED BY BERTRAM GOODHUE - 1916 | PASADENA

Offered at $5,200,000 695columbiapasadena.com


HERBERT COPPELL ESTATE DESIGNED BY BERTRAM GOODHUE - 1916 | PASADENA, Interior


a message from

Michael Williamson Pasadena Brokerage Manager

I take great pleasure in presenting the Greater Pasadena Market Update for the third quarter of 2018. After a strong 2017, the Greater Pasadena real estate market remains stable in the first, second and third quarters. According to the FLEX MLS, when comparing the third quarter of 2018 to the same time last year, average days on market for Greater Pasadena declined to 40 days compared to 41 days the year prior. Neighborhoods such as La Canada Flintridge, San Marino, and Glendale showed a median sales price increase of 7%, 5%, and 6%, respectively. Overall, the average sales price in Greater Pasadena rose from $1.28M to $1.33M a 4% increase from the third quarter of 2017. 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 70 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 exceptional 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.


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Offered at $3,990,000 65sanrafael.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 $3,999,999 1870sanpasqual.com SAN MARINO

Offered at $2,900,000 1300virginiaroad.com PASADENA

Offered at $2,650,000 686laloma.com PASADENA

Offered at $998,000 1580nroosevelt.com *in order from left to right, top to bottom

sothebyshomes.com/pasadena

5

/ Featured Properties / Pasadena Q3 Market Update


Market Snapshot All Pasadena | Q3 2018

$1,350,000

1020

$1,300,000

1000

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

980

$1,250,000

Below $1M

960 $1,200,000 940 $1,150,000 920 $1,100,000

$1M-$3M

900

$1,050,000

880

$1,000,000

860

2014 2015 2016 2017 2018

Total Volume by Price Point 28 % 55 % 6% 11 %

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 Q3 Market Update


at a glance {Q3 | 2018}

altadena

+3

%

Change in Average Selling Price {2018 v 2017}

+5

%

Change in Units Sold {2018 v 2017}

103 Units Sold

1m

$

Average Selling Price


|

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

140

$1,000,000

120 100

$800,000

80 $600,000 60 $400,000

40

$200,000

20

$-

0

2014

2015

2016

2017

2018

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

3%

0%

-

5%

20%

2018

$962,563

$845,000

0%

103

40

2017

$933,494

$842,500

1%

98

34

2016

$837,919

$739,500

-1%

120

48

2015

$783,317

$691,500

1%

112

53

2014

$668,651

$595,000

-1%

103

47

Q3 {2018 v 2017}

Change

9

/ Altadena / Pasadena Q3 Market Update


|

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

145

$1,800,000

140

$1,600,000

135

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

130

$1,000,000 125

$800,000 $600,000

120

$400,000

115

$200,000 $-

110

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

11%

-3%

-

-10%

0%

2018

$1,754,138

$1,280,000

-12%

110

49

2017

$1,575,482

$1,317,500

-6%

122

49

2016

$1,619,358

$1,287,400

-7%

127

45

2015

$1,677,052

$1,197,500

-6%

122

47

2014

$1,685,379

$1,360,000

-3%

113

36

Pasadena Q3 Market Update / Arcadia / 10


at a glance {Q3 | 2018}

arcadia

+11

%

Change in Average Selling Price {2018 v 2017}

-10

%

Change in Units Sold {2018 v 2017}

110 Units Sold

1.8m

$

Average Selling Price


at a glance {Q3 | 2018}

GLENDALE

+3

%

Change in Average Selling Price {2018 v 2017}

+24

%

Change in Units Sold {2018 v 2017}

241 Units Sold

1m

$

Average Selling Price


|

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

300

$1,000,000

250

$800,000

200

$600,000

150

$400,000

100

$200,000

50

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

3%

6%

-

24%

-21%

2018

$1,033,455

$956,000

-36%

241

32

2017

$999,738

$905,000

-84%

195

41

2016

$942,629

$875,000

-2%

177

46

2015

$878,950

$822,500

-1%

208

44

2014

$817,609

$738,500

-2%

172

52

13

/ La CaĂąada Flintridge / Pasadena Q3 Market Update


|

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

90 80

$2,000,000

70 60

$1,500,000

50 40

$1,000,000

30 20

$500,000

10 $-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

6%

7%

-

-13%

4%

2018

$2,174,966

$1,772,500

-6%

58

53

2017

$2,054,209

$1,650,000

-2%

67

51

2016

$1,830,911

$1,594,500

-7%

69

43

2015

$1,785,771

$1,444,000

-2%

76

46

2014

$1,538,861

$1,285,000

-1%

79

46

Pasadena Q3 Market Update / Arcadia / 14


at a glance {Q3 | 2018}

la caĂąada flintridge

+6

%

Change in Average Selling Price {2018 v 2017}

-13

%

Change in Units Sold {2018 v 2017}

58 Units Sold

2.2m

$

Average Selling Price


at a glance {Q3 | 2018}

PASADENA

+8

%

Change in Average Selling Price {2018 v 2017}

-12

%

Change in Units Sold {2018 v 2017}

231 Units Sold

1.3m

$

Average Selling Price


|

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

300

$1,200,000

250

$1,000,000

200

$800,000 150 $600,000 100

$400,000

50

$200,000 $-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

8%

8%

-

-12%

-1%

2018

$1,314,792

$1,030,000

-2%

231

41

2017

$1,220,939

$950,000

-1%

263

42

2016

$1,056,381

$835,000

-2%

271

43

2015

$1,043,214

$784,000

0%

278

46

2014

$1,037,896

$773,500

-2%

280

47

17

/ La CaĂąada Flintridge / Pasadena Q3 Market Update


|

Average Selling Price Total Units Sold $900,000

100 90

$850,000

80 70

$800,000

60 50

$750,000

40 30

$700,000

20 10

$650,000

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

2%

7%

-

-12%

-31%

2018

$865,107

$849,000

2%

68

23

2017

$848,818

$795,000

-15%

77

33

2016

$733,180

$684,500

-1%

67

33

2015

$771,677

$710,000

-2%

90

34

2014

$740,699

$689,000

-1%

78

31

Pasadena Q3 Market Update / Pasadena / 18


at a glance {Q3 | 2018}

SAN GABRIEL

+2

%

Change in Average Selling Price {2018 v 2017}

-12

%

Change in Units Sold {2018 v 2017}

68 Units Sold

900k

$

Average Selling Price


at a glance {Q3 | 2018}

san marino

+15

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

38 Units Sold

2.8m

$

Average Selling Price


|

Average Selling Price Total Units Sold $3,500,000

40

$3,000,000

35 30

$2,500,000

25

$2,000,000

20 $1,500,000

15

$1,000,000

10

$500,000

5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

15%

5%

-

0%

57%

2018

$2,795,800

$2,247,000

-7%

38

62

2017

$2,439,661

$2,140,500

-2%

38

39

2016

$2,459,382

$2,075,000

-1%

38

41

2015

$2,436,360

$2,149,000

-10%

30

53

2014

$3,020,936

$2,358,000

-1%

37

31

21

/ San Marino / Pasadena Q3 Market Update


|

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

45 40

$1,200,000

35

$1,000,000

30

$800,000

25

$600,000

20 15

$400,000

10

$200,000

5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

-11%

-3%

-

19%

8%

2018

$1,072,922

$1,065,000

-3%

32

39

2017

$1,201,968

$1,100,000

-4%

27

36

2016

$1,177,144

$1,006,000

-3%

29

38

2015

$1,068,886

$962,500

-3%

32

33

2014

$903,471

$876,250

-3%

40

36

Pasadena Q3 Market Update / Sierra Madre / 22


at a glance {Q3 | 2018}

sierra madre

-11

%

Change in Average Selling Price {2018 v 2017}

+19

%

Change in Units Sold {2018 v 2017}

32 Units Sold

1.1m

$

Average Selling Price


at a glance {Q3 | 2018}

south pasadena

1

%

Change in Average Selling Price {2018 v 2017}

-31

%

Change in Units Sold {2018 v 2017}

25 Units Sold

1.5m

$

Average Selling Price


|

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

50

$1,600,000

45

$1,400,000

40 35

$1,200,000

30

$1,000,000

25

$800,000

20

$600,000

15

$400,000

10

$200,000

5

$-

0

2014

2015

2016

2017

Average Selling Price

2018 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

Q3

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

{2018 v 2017}

Change

1%

-3%

-

-31%

12%

2018

$1,531,958

$1,438,340

2%

25

34

2017

$1,510,671

$1,486,250

3%

36

30

2016

$1,244,095

$1,200,000

3%

43

28

2015

$1,523,132

$1,285,000

4%

46

32

2014

$1,215,994

$1,135,000

5%

33

24

25

/ South Pasadena / Pasadena Q3 Market Update


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

LA CAÑADA FLINTRIDGE

Character Spanish Last asking $2,150,000


LA CRESCENTA

Tremendous Napa Valley Style Farmhouse Last asking $2,595,000 PASADENA

Breathtaking Arroyo Views Last asking $1,895,000 PASADENA

Classic Spanish Hacienda Last asking $1,600,000 PASADENA

Coveted Caltech Neighborhood Last asking $1,129,000 *in order from left to right, top to bottom

sothebyshomes.com/pasadena 27

/ Significant Sales / Pasadena Q3 Market Update


Exceptional Diamonds. Curated by Sotheby’s.

LONDON HONG KONG NEW YORK. SOTHEBYSDIAMONDS.COM

Pasadena Market Update | Q3 2018  
Pasadena Market Update | Q3 2018