Feb. 21, 2012

Pasadena Real Estate Update - Condos and Townhomes

Condos and Townhomes in Pasadena Real Estate Statistics

Looking for a Pasadena condo for sale?  Or, maybe, you own one of these properties and would like to keep an eye on the Pasadena real estate market?  If so, you've come to the right place.  I'll be updating you on the critical data that drive Pasadena's real estate market every month.  So go ahead and bookmark this post.  Come back to it around the middle of each month for last month's real estate data and scroll down below for the report!

READ MORE:  The Ultimate Pasadena Condo Buying Guide

2012 is here and so are January's condo and townhouse statistics:

  • January of 2012 started out with the lowest volume of available condos and townhomes for sale in the last year - only 167 compared to 291 last January.  That's a 42.6% change.  Inventory is tightening!
  • 24 condos and townhouses sold compared to 39 in January of 2010.
  • Priced per square foot is fairly stable at $327/sq. ft. just a teeny bit below the $333/sq. ft. of January 2010.
  • More lower priced, smaller condos and townhouses available than last year:
  • An average sales price of a condominium in Pasadena was $421,000.
  • An average sales price for a townhome in Pasadena in January was $373,000.
  • Sold to List ratio is running at 96% and it takes 76 days to sell.

[caption id="attachment_3194" align="alignnone" width="361" caption="Historic 1922 Barcelona Building in Pasadena"]Historic 1922 Barcelona Building - Heart of Pasadena[/caption]

[caption id="attachment_3195" align="alignnone" width="204" caption="Eco Friendly Townhome - Residences at Wilson"]Eco Friendly Townhome - Residences at Wilson[/caption]

2011 Pasadena Condo Housing Data:

December 2011 Real Estate Market Report for Pasadena California Condos for sale and Townhomes:

  • There are 172 Pasadena condos and townhouses for sale.  27 of these homes were listed in the month of December with an average list price of $553,000.
  • There are 27 condos, lofts and townhouses that are currently in escrow (under contract) and in the past 30 days there has been 33 condos sold with an average closed price $528,848, with an average sold per square foot price of $331 spending an average of 133 days on the market.
  • 2011  ended with 453 closed sales with an average sold price of $432,534 spending an average of 126 days on the real estate market.
    • Average price per square foot was $326
    • Average interior square footage – 1,319

Read More:  Most expensive homes in Pasadena

For comparison purposes, 2010 Pasadena real estate market information for condos and townhomes is below:

  • 2010 had 476 closed sales with an average sold price of $465,542 spending an average of 103 days on the market.  The average sized condo or townhome was 1,304 sq. ft. and sold at 97.6% of list price.  The average price per square foot was $355.
  • Highest – $2,100,000
  • Lowest – $125,000

Here's a look at the 10 year history of Pasadena condo and townhome prices:

[caption id="attachment_3510" align="aligncenter" width="600" caption="Pasadena Condos and Townhomes - 2001 to 2011 Pricing (data from TrendVision)"]Pasadena Condos and Townhomes 10 year Pricing Statistics[/caption]

[caption id="attachment_3511" align="aligncenter" width="607" caption="Pasadena Real Estate Condo and Townhouse (data from TrendVision)"]Pasadena Real Estate Condo and Townhouse stats[/caption]

Interested in more information about Pasadena and surrounding cities, check out our City Guides below:

Alhambra City Guide

Altadena City Guide

Arcadia City Guide

Eagle Rock City Guide

Monterey Hills City Guide

Pasadena City Guide

San Gabriel City Guide

San Marino City Guide

Sierra Madre City Guide

South Pasadena City Guide
And, if you are interested in fun activities to do in Pasadena, take a look at our 365 Things To Do In Pasadena® page.

Thinking of selling your Pasadena home? Interested in finding out the current market value of your single family home, condo or investment property? Then call Irina Netchaev at (626) 629-8439 to discuss what is happening in today’s Pasadena Real Estate Market.

November 2011 Real Estate Market Report for Pasadena California Condos and Townhomes:

  • There are 171 Pasadena condos and townhouses for sale.  28 of these homes were listed in the month of November with an average list price of $461,909 with an average price per square foot of $341.
  • There are 51 condos, lofts and townhouses that are currently in escrow (under contract) and in the past 30 days there has been 38 condos sold with an average closed price $409,783, with an average sold per square foot price of $330 (just below the listing price per square foot of $341) spending an average of 121 days on the market.
  • YTD there have been 415 closed sales with an average sold price of $427,396 spending an average of 125 days on the real estate market.
    • Average price per square foot was $326
    • Average interior square footage – 1,307
  • Highest  sold in November 2011– $1,000,000  – Not a surprise that a million dollar sale was in the Millionaire's Row neighborhood.  All Cash Purchase.
  • Lowest sold in November 2011 – $150,000.  A studio in the historic 1922 Barcelona building on Madison.  Another all cash purchase which also happened to be a bank owned property.

October 2011 Real Estate Market Report for Pasadena California Condos and Townhomes:

  • There are 183 active condos and townhouses for sale in Pasadena California.  43 of these homes were listed in the month of October with an average list price of $569,400.
  • There are 42 pending/under contract sales and in the past 30 days there has been 30 closed sales with an average closed price $474,083 spending an average of 113 days on the market.
  • YTD there have been 382 closed sales with an average sold price of $426,464 spending an average of 126 days on the real estate market.
    • Average price per square foot was $325
    • Average interior square footage – 1,308
  • Highest  sold in October– $1,050,000  – Brand new construction at Terra Bella.  There are still quite a few units available in that luxury complex, give me a call if you're interested in seeing them.
  • Lowest sold in October – $132,500.

September 2011 Real Estate Market Report for Pasadena California Condos and Townhomes:

  • There are 188 active condos and townhomes for sale in Pasadena California.  50 of these properties were listed in the month of September with an average list price of $603,800.  The volume remains similar to August's numbers, but the condos and townhouses listed this month are substantially more expensive.  Luxury condo buyers have more choices.
  • There are 80 pending/under contract sales and in the past 30 days there has been 38 closed sales with an average closed price $353,574 spending an average of 160 days on the market.
  • YTD there have been 350 closed sales with an average sold price of $422,605 spending an average of 126 days on the real estate market.
    • Average price per square foot was $325
    • Average interior square footage – 1,296
  • Highest  sold in September– $723,000  – 123 days on the market.  This was a conventional sale in the Residences at Wilson.  See photo above.
  • Lowest sold in September – $159,000.  Another all cash sale - 1 bedroom and 1 bath.

August 2011 Real Estate Statistics for Pasadena California Condos and Townhomes:

  • There are 190 active condos and townhomes for sale in Pasadena California.  56 of these properties were listed in the month of August with an average list price of $477,427.
  • There are 55 pending/under contract sales and in the past 30 days there has been 38 closed sales with an average closed price $415,096 spending an average of 109 days on the market.
  • YTD there have been 311 closed sales with an average sold price of $430,181 spending an average of 123 days on the real estate market.
    • Average price per square foot was $327
    • Average interior square footage – 1,311
  • Highest  sold in August– $1,050,000 (originally listed at $1,075,000) – 79 days on the market.  This was an all cash sale!
  • Lowest sold in August – $160,000.  Another all cash sale - 1 bedroom and 1 bath.

July 2011 Real Estate Statistics for Pasadena California Condos and Townhomes:

  • There are 219 active condos and townhomes for sale in Pasadena California.  50 of these properties were listed in the month of July with an average list price of $442,116.
  • There are 82 pending/under contract sales and in the past 30 days there has been 33 closed sales with an average closed price $447,842 spending an average of 132 days on the market and on average sold at $332 per sq. ft.
  • YTD there have been 273 closed sales with an average sold price of $432,280 spending an average of 124 days on the real estate market.
    • Average price per square foot was $330
    • Average interior square footage – 1,308
  • Highest  sold in July– $1,050,000 – 169 days on the market.
  • Lowest sold in July – $200,000.

November 2010 Statistics

When we are looking at Pasadena's real estate statistics for November 2010, the number of sales reported will reflect home purchases that took place early fall in September and October months. The escrow period, the time that it takes from home seller's acceptance of your offer to the actual property title change into your name usually takes 30 to 45 days. With the tightened lending requirements and appraisal issues, it might take a little longer.

In the month of November, 79 single family homes had signed contracts and 38 condos and tonwhomes went under contract. Let's take a look at how Pasadena real estate performed a little deeper:

Pasadena Real Estate November 2010 Volume

  Single FamilyHomes Condos & Townhomes
New On the Market 69 43
Contracts Signed 79 38
Total # of Listings 318 247
# of Closed Sales 27 15

Not too many distressed sales during the month of November - only 6 out of 27 (1 in 5 or 22%) of homes and 2 short sales (13%) of condos and townhomes.

Pasadena Real Estate November 2010 Pricing

  Single FamilyHomes Condos & Townhomes
Average List Price $654,210 $506,700
Average Sold Price $615,072 $496,300
Average Price/Sq. Ft. $336 $341
# of Days to Sell 96 89

Interestingly enough, the average sold price per square foot for Pasadena homes, condos and townhomes is pretty much the same. It also takes about the same amount of time to sell - 3 months. Drilling down a little more the signed contracts in November actually moved the price per square foot higher for single family homes. They are tracking at $380 per square foot, while condos and townhomes are tracking at $331.


Interested in seeing what available for sale? Click on the form below to search for full access to the Multiple Listing Service. 

READ MORE:  Pasadena real estate update 2012 – see luxury home sales.


Irina is a Top Realtor and the founder and President of Pasadena Views Real Estate Team™. She is available to assist you in all of your Real Estate transactions. Email or call her today at (626)629-8439.

Interested in seeing what available for sale? Take a look at the home listings below. The information is updated real-time as new homes are entered into the Multiple listings service:

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Connor MacIvor Nov. 23, 2011

Its always a pleasure commenting on your posts Irina. You are a breath of fresh air as usual. I also love the fact you do Facebook right with no self promotion. As always. Connor. Happy thanksgiving.

Irina Nov. 23, 2011

Connor, thanks so much and a very happy Thanksgiving to you and yours!

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