Pasadena CA - South Orange Grove Condo and Townhome Market Update

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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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Rainmaker
864,876
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
888,410
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
1,200,789
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
284,033
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
888,410
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
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Michael Jacobs

Pasadena Real Estate Representation 818.516.4393
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Your source for real estate representation in the San Gabriel Valley and northeast communities of the city of Los Angeles including: Pasadena, Altadena, South Pasadena, San Marino, Alhambra, San Gabriel, Temple City, Arcadia, Sierra Madre, Monrovia, Duarte, Bradbury, Azusa, Glendora, Claremont, Glendale and La Canada Flintridge as well as Highland Park, Monterey Hills, Eagle Rock, Mt Washington, Montecito Heights, Glassell Park and Sagamore Park.