Pasadena CA - South Orange Grove Condo and Townhome Market Update

By
Real Estate Agent with Coldwell Banker Residential Brokerage CalBRE #01165532
http://actvra.in/FRY

Pasadena CA - South Orange Grove Condo and Townhome Market Update

Tournament House -- South Orange Grove Boulevard Real Estate


 

This market update is for the South Orange Grove Boulevard corridor condominium and townhome in Pasadena for the month and year-to-date period ending July 31, 2012.   This update covers the area that is also known as Millionaires Row for Orange Grove and the adjacent streets.  Known as the premier location for upscale condos and townhomes in Pasadena and the San Gabriel Valley, residents enjoy easy access to multiple freeways as well as a multitude of shopping, dining, entertainment and cultural venues.   Additionally, South Orange Grove Boulevard is the start of the annual New Year’s party event known as the Rose Parade which winds its way down Colorado Boulevard and is seen on television throughout the world and by hundreds of thousands on the streets of Pasadena.  


South Orange Grove condos and townhomes


 

Currently there are twelve properties on the market for sale in the condo and townhome category along the South Orange Grove corridor.   They range in price from $610,000 to $1,099,000.  Seven properties are in escrow.   There is also one property - a rare bank owned condo that does not show in our local multiple listing that was due to be auctioned last month.   

Millionaires Row in Pasadena


 

There were three sales in July 2012 according to our local multiple listing service records.   One was a Cravens Court townhouse style condo that sold for $580,000.   There was an also an approximately 2610 square feet multi-level condo at Arroyo del Vista that sold for $830,000.  The third sale was a two bedroom, den condo at 251 South Orange Grove that sold before actually coming on the market for full exposure.  It closed for $1,050,000.   In July 2011, there were five sales ranging in price from $510,000 to $691,400 with an average sales price of $624,080(median sales price $645,000).

For the seven months ending July 2012, there have been 35 sales along South Orange Grove corridor versus 25 in the same period of 2011.  Sales during 2012 ranged from $353,000 to $1,200,000 with an average sales price of $654,590(median sales price $610,000).   In 2011 the sales ranged from $369,000 to $1,200,000 with an average of $641,996(median $625,000).

Inventory of homes on the market for sale and available remains low and homeowners who may be thinking of selling may have a unique opportunity to take advantage of high buyer demand in the area.   If you are considering selling or buying in the South Orange Grove corridor or anywhere in the Pasadena or San Gabriel Valley, I welcome your call.  I can be reached at 818.516.4393 cell or by email at michaeljacobs@coldwellbanker.com.


South Orange Grove condos and townhomes in Pasadena - Realtor Michael Jacobs 818.516.4393 cell

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Topic:
Real Estate Market Trends
Location:
California Los Angeles County Pasadena South Arroyo/south Orange Grove Corridor
Groups:
Condos, What you need to know?
City & State: Listings and Market Reports
The Ninety-ninth Percentile
HyperLocal Neighborhood and Community Posts
Market Updates
Tags:
tournament rose
millionaires row condos
pasadena townhomes
pasadena condos
south orange grove

Comments 16 New Comment

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Show All Comments
Rainmaker
495,244
Chris and Dick Dovorany
Broker/Associate at Premiere Plus Realty
Homes for Sale in Naples, Bonita Springs and Estero, Florida

I have always loved the grandness of Pasadena.  I so hope it's coming back with all of it's spendor.

August 04, 2012 10:37 AM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Hello Chris and Dick -- Pasadena has some exceptional architecture and many tree-lined streets that makes it a very attractive destination to visit and to live.   The current real estate market is very active with a strong demand by buyers and relatively low inventory.  Since the city is pretty much built-out, there is very little new construction at the residential level on a large scale.  Thanks for stopping by and commenting.

August 04, 2012 10:45 AM
Rainmaker
1,002,449
Belinda Spillman
Your Real Estate Resource For Life!
Aspen Lane Real Estate LLC

Hi Michael,  What a beautiful place this is.  Everything is manicured so nicely and the building seem to be exceptionally well cared for.  Great market report.

August 04, 2012 11:04 AM
Rainmaker
533,036
Morgan Evans
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

So many excellent complexes to choose from in the pasadena ca south orange grove condo and tonwhome for sale market.

August 04, 2012 11:59 AM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Hi Belinda -- The top photo is of Tournament House -- the home of Rose Parade and former home(mansion) of the Wrigley family.   

Hi Morgan -- from condos to townhomes there is a variety of different styles and sizes along the South Orange Grove Boulevard corridor.   Many of the complexes offer large lawn and garden areas further enhancing the appeal of the area.   

August 04, 2012 12:10 PM
Rainmaker
657,668
Eileen Hsu
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

You have great pictures, the Pasadena California condos for sale market looks like your area of expertise.

August 04, 2012 12:10 PM
Rainmaker
656,938
Pamela Seley, REALTORĀ®
Menifee Lakes California Real Estate
REALTY EXECUTIVES OTF

Michael, I really enjoyed reading your market report today. Nicely done, and looks like South Orange Grove Condos are a desirable place to live. Have a great week,

August 04, 2012 12:42 PM
Rainmaker
637,960
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Tahoe Real Estate Agent Helping Buyers and Sellers
Coldwell Banker, Tahoe City, CA (530) 414-1260

Michael - You have to love a market report that starts off with Millionaires Row!  Loved the photos!

August 04, 2012 12:47 PM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Eileen -- South Orange Grove is just one of the many great areas I have the opportunity to serve.  Thanks for stopping by and commenting.

Pamela -- many consider it to the ultimate in luxury living in the San Gabriel Valley.  Hope you have a great week ahead as well.  Enjoy the weekend.

Laura -- at the turn of the 20th century, South Orange Grove Boulevard was home to many mansions(many of the owners came from the Midwest and East to escape the weather) -- most are now gone but the name Millionaires Row has remained.   Thanks very much.  Glad you liked the photographs.  

 

August 04, 2012 01:45 PM
Rainer
180,045
Tatyana Makarov
Your Greater Hartford Area Realtor
Coldwell Banker Residential Brokerage

Hello Michael,

We lived in Pasadena ten years ago, and know exactly what condos you are talking about. This is a beautiful place to live. I wish you best luck finding new buyers!

August 04, 2012 03:31 PM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Hi Tatyana -- I hope you are enjoying the Connecticut and the East Coast.  Thanks so much for stopping by and commenting.   Have a great weekend.

August 04, 2012 04:35 PM
Rainmaker
891,596
Michael Setunsky
Your Commercial Real Estate Link to Northern VA
Michael's Commercial LLC

Michael, South Orange Grove sounds like an inviting community. Nice market report!

August 05, 2012 06:16 AM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Michael -- you are absolutely right -- the condos and townhomes along South Orange Grove have a great location combined with many large properties that make them a viable option for many.   Thanks for stopping by and commenting today.

August 05, 2012 09:11 AM
Ambassador
1,228,922
Erica Ramus
MRE, Schuylkill County PA Real Estate
Erica Ramus - Ramus Realty Group - Pottsville, PA

Good market update and localism info. I need to get my butt in gear and start doing more of these.

August 05, 2012 11:51 AM
Rainmaker
305,445
Wandanna Melliphant
A Name Real Estate Investors Trust and Recommend
Royal Lepage Credit Valley Real Estate Brokerage

Hi Michael,

Congrats on the feature.

Pasadena’s residence has a lot of options to choose from, hence consulting with a local expert like yourself is the way to go to save time and frustration from looking at the wrong condo or townhouse.

All the best for the rest of 2012!

 

August 05, 2012 09:03 PM
Rainmaker
972,325
Michael Jacobs
Pasadena Real Estate Representation 818.516.4393
Coldwell Banker Residential Brokerage

Erica -- thanks very much for stopping by and commenting.  

Wandanna -- while inventory is low, informing buyers of changes in the market whether that be new listings, a property that comes back on the market or a price reduction is just a part of what we do for our clients.  Thank you for the kind comments and best of continued success to you as well.   

August 06, 2012 09:34 AM
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Rainmaker
972,325

Michael Jacobs

Pasadena Real Estate Representation 818.516.4393
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