Pasadena Market Update | Q4 2018

Q4 | 2018

Pasadena

Market Update

1950’S POST & BEAM | ALTADENA

Offered at $1,100,000 sothebyshomes.com/pasadena

1950’S POST & BEAM | ALTADENA, Exterior View

a message from

Michael Williamson Pasadena Brokerage Manager

I take great pleasure in presenting the Greater Pasadena Market Update for the final quarter of 2018.

The Greater Pasadena real estate market ended the year with reduced sales, inventory on the rise and prices remaining stable. According to the Flex MLS, the number of homes sold in the last quarter of 2018, compared to those sold in the last quarter of 2017, decreased by roughly 5% with 779 homes sold in Q4 2017 and 737 sold in Q4 2018. More than half of the sales in Q4 last year occurred in the $1 million to $3 million range, with San Marino leading the way in the upper end of that category.

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.

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.

CHARMING ENGLISH COTTAGE | GLENDALE

Offered at $1,125,000 1431hillsidedrive.com

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

SAN MARINO

Offered at $3,950,000 1047oakgroveplace.com SAN MARINO

Offered at $1,749,000 2825sheffield.com GLENDALE

Offered at $1,599,000 3385eastchevychase.com GLENDALE

Offered at $1,125,000 1431hillsidedrive.com *in order from left to right, top to bottom

sothebyshomes.com/pasadena

5

/ Featured Properties / Pasadena Q4 Market Update

Market Snapshot All Pasadena | Q4 2018

$1,400,000

900

$1,200,000 850

$5M and Up

$1,000,000

$3M -$5M Below $1M

800

$800,000

$600,000

750

$400,000

$1M-$3M

700 $200,000

$-

650

2014 2015 2016 2017 2018

Total Volume

by Price Point 30 % 53 % 9% 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 Q4 Market Update

at a glance {Q4 | 2018}

altadena

+6

%

Change in Average Selling Price {2018 v 2017}

+2

%

Change in Units Sold {2018 v 2017}

92 Units Sold

1m

$

Average Selling Price

|

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

120

$1,000,000

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

6%

7%

-

2%

6%

2018

$971,585

$836,900

-1%

92

41

2017

$912,676

$779,000

2%

90

38

2016

$868,595

$778,000

-3%

88

51

2015

$778,973

$700,000

-1%

108

53

2014

$718,769

$625,000

-5%

95

75

Q4 {2018 v 2017}

Change

9

/ Altadena / Pasadena Q4 Market Update

|

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

140

$1,800,000

120

$1,750,000

100

$1,700,000

80

$1,650,000

60

$1,600,000

40

$1,550,000

20

$1,500,000

0

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

Q4

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

{2018 v 2017}

Change

-9%

-12%

-

-29%

22%

2018

$1,619,383

$1,189,000

-8%

75

63

2017

$1,786,824

$1,349,000

-10%

106

52

2016

$1,633,148

$1,179,000

-9%

114

62

2015

$1,813,564

$1,375,000

-9%

117

59

2014

$1,738,188

$1,400,000

-5%

117

78

Pasadena Q4 Market Update / Arcadia / 10

at a glance {Q4 | 2018}

arcadia

-9

%

Change in Average Selling Price {2018 v 2017}

-29

%

Change in Units Sold {2018 v 2017}

75 Units Sold

1.6m

$

Average Selling Price

at a glance {Q4 | 2018}

GLENDALE

+5

%

Change in Average Selling Price {2018 v 2017}

-15

%

Change in Units Sold {2018 v 2017}

188 Units Sold

1m

$

Average Selling Price

|

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

250

$1,000,000

200

$800,000 150 $600,000 100 $400,000 50

$200,000 $-

0

2014

2015

2016

2017

2018

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

Q4

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

{2018 v 2017}

Change

5%

9%

-

-15%

12%

2018

$1,027,464

$950,000

-2%

188

45

2017

$981,143

$875,000

-3%

220

41

2016

$917,494

$851,500

-1%

234

47

2015

$820,018

$784,500

-1%

198

45

2014

$792,609

$720,500

-3%

224

80

13

/ Glendale / Pasadena Q4 Market Update

|

Average Selling Price Total Units Sold $2,400,000

62 60

$2,300,000

58

$2,200,000

56

$2,100,000

54

$2,000,000

52 50

$1,900,000

48

$1,800,000

46

$1,700,000

44

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

Q4

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

{2018 v 2017}

Change

15%

-2%

-

16%

27%

2018

$2,277,682

$1,637,500

7%

58

62

2017

$1,978,798

$1,675,500

-2%

50

48

2016

$1,922,819

$1,660,000

-3%

59

66

2015

$1,918,388

$1,656,250

-4%

60

62

2014

$1,949,111

$1,487,500

-5%

56

99

Pasadena Q4 Market Update / La Canada Flintridge / 14

at a glance {Q4 | 2018}

la caĂąada flintridge

+15

%

Change in Average Selling Price {2018 v 2017}

16

%

Change in Units Sold {2018 v 2017}

58 Units Sold

2.3m

$

Average Selling Price

at a glance {Q4 | 2018}

PASADENA

+10

%

Change in Average Selling Price {2018 v 2017}

+8

%

Change in Units Sold {2018 v 2017}

200 Units Sold

1.4m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,600,000

250

$1,400,000 200

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

150

$800,000 100

$600,000 $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

Q4

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

{2018 v 2017}

Change

10%

0%

-

8%

9%

2018

$1,381,338

$950,000

-3%

200

43

2017

$1,259,399

$952,000

0%

185

40

2016

$1,090,043

$852,325

-75%

231

50

2015

$1,041,656

$790,000

-3%

210

53

2014

$929,540

$745,000

-5%

195

77

17

/ Pasadena / Pasadena Q4 Market Update

|

Average Selling Price Total Units Sold $900,000

90 80

$850,000

70 60

$800,000

50 40

$750,000

30 20

$700,000

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

Q4

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

{2018 v 2017}

Change

2%

-3%

-

0%

25%

2018

$870,807

$765,000

-6%

59

49

2017

$852,361

$787,000

-1%

59

39

2016

$822,319

$765,000

-3%

64

29

2015

$732,247

$703,500

-4%

60

50

2014

$761,096

$705,000

-3%

77

76

Pasadena Q4 Market Update / San Gabriel / 18

at a glance {Q4 | 2018}

SAN GABRIEL

+2

%

Change in Average Selling Price {2018 v 2017}

0

%

Change in Units Sold {2018 v 2017}

59 Units Sold

900k

$

Average Selling Price

at a glance {Q4 | 2018}

san marino

-17

%

Change in Average Selling Price {2018 v 2017}

-19

%

Change in Units Sold {2018 v 2017}

25 Units Sold

2.4m

$

Average Selling Price

|

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

35

$3,000,000

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

Q4

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

{2018 v 2017}

Change

-17%

7%

-

-19%

-32%

2018

$2,392,178

$2,138,000

-7%

25

64

2017

$2,873,150

$2,000,000

-7%

31

94

2016

$2,647,480

$2,150,000

-5%

31

60

2015

$2,376,115

$2,250,000

-3%

32

43

2014

$2,183,286

$2,035,000

0%

24

62

21

/ San Marino / Pasadena Q4 Market Update

|

Average Selling Price Total Units Sold $1,080,000

35

$1,060,000

30

$1,040,000

25

$1,020,000 $1,000,000

20

$980,000 15

$960,000 $940,000

10

$920,000

5

$900,000 $880,000

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

Q4

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

{2018 v 2017}

Change

11%

2%

-

-22%

-12%

2018

$1,058,335

$945,000

-6%

18

38

2017

$951,848

$925,000

-5%

23

43

2016

$1,048,100

$950,000

-5%

20

52

2015

$970,834

$920,000

-4%

29

46

2014

$1,039,394

$950,000

-6%

27

73

Pasadena Q4 Market Update / Sierra Madre / 22

at a glance {Q4 | 2018}

sierra madre

+11

%

Change in Average Selling Price {2018 v 2017}

-22

%

Change in Units Sold {2018 v 2017}

18 Units Sold

1.1m

$

Average Selling Price

at a glance {Q4 | 2018}

south pasadena

-15

%

Change in Average Selling Price {2018 v 2017}

47

%

Change in Units Sold {2018 v 2017}

22 Units Sold

1.2m

$

Average Selling Price

|

Average Selling Price Total Units Sold $1,450,000

40

$1,400,000

35

$1,350,000

30

$1,300,000

25

$1,250,000

20

$1,200,000

15

$1,150,000

10

$1,100,000

5

$1,050,000

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

Q4

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

{2018 v 2017}

Change

-15%

-5%

-

47%

12%

2018

$1,183,694

$1,220,225

-3%

22

41

2017

$1,396,397

$1,284,455

2%

15

37

2016

$1,380,989

$1,300,000

0%

35

48

2015

$1,288,975

$1,289,500

-2%

32

43

2014

$1,263,651

$1,204,000

0%

35

73

25

/ South Pasadena / Pasadena Q4 Market Update

ARCADIA

Lower Rancho Home Last asking $1,588,000

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

PASADENA

The Montana Ultimate Luxury Residence Last asking $1,995,000 PASADENA

Breathtaking Arroyo Views Last asking $1,488,000 SOUTH PASADENA

1901 Traditional Craftsman Last asking $1,350,000 PASADENA

Enchanting Colonial Revival Last asking $1,298,000 *in order from left to right, top to bottom

sothebyshomes.com/pasadena 27

/ Significant Sales / Pasadena Q4 Market Update

PHOTO BY PAUL VAN COTTHEM ON UNSPLASH

w i n e i s a n e v e r- e n d i n g j o u r n e y. sothebyswine.com

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