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San Gabriel Valley real estate: April report

May 17, 2013 By davina Leave a Comment

Our San Gabriel Valley real estate report comparing April 2013 to April 2012 is now available. An overview of San Gabriel Valley real estate shows a 28.1 percent average increase in the number of homes sold in April as compared to the year before. That’s a slight drop from March’s jump of 37.9 percent over the previous year but still a healthy gain.

Overall, April’s numbers contained some good news, but it fell short of March’s performance.

San Gabriel Valley real estate: By the numbers

On the whole, home sales prices increased 14.4 percent for the month of April between 2012 and 2013. That’s a spike even from March’s numbers, which indicated a 13.3 percent jump.

San Marino saw the biggest price increases, with prices going up an average of 37.9 percent over April 2012. In March 2013, San Marino had 50 percent fewer sales than the previous year, but in April we see 50 percent more sales, busting the city out of that trend. Although the number of listings are done, the trends are looking very positive for San Marino.

South Pasadena saw a jump of 35 percent in prices, and it’s the only area in San Gabriel Valley real estate to show no change in the number of listings between April 2012 and April 2013. Its sales are down 4.5 percent, however.

Northwest Pasadena, however, saw a decline of 21.4 percent in prices. While this area saw its number of home sales double, it also had significantly fewer home listings than in April 2012, so the statistics are a mixed bag.

It’s important to bear in mind that these numbers reflect only a one-month period, as compared to the same one-month period of the previous year, a limited picture of our markets. We’ll know more once we can compare the entire spring season this year against spring 2012.

See news on Realtor.com for the latest in national real estate trends. Visit our How’s The Market? page to see the full comparison reports for March and April for our San Gabriel Valley real estate markets.

Filed Under: Our Blog

Caltech playfest a marriage of art, science

May 17, 2013 By davina Leave a Comment

Caltech is one of the nation’s finest science and engineering education institutions, but it still has room for a little artistic expression – with a play festival that blends live theater and scientific themes.

The New Plays Festival at Caltech is under way, with a variety of performances touching on climate change, water quality, a controversial inventor, and a Mars Rover mission specialist. Two plays remain: “Sila” on May 18 and “The Washing of Water” on June 1.

Caltech playfest

“Sila,” set for 2 p.m. May 18, is a poetic play about climate change and its consequences on people and animals living in the Arctic Circle. The play takes place in the TACIT Experimental Lab Theater behind the TACIT House. The play stars Sandra Tsing Loh, host of NPR’s The Loh Down and Caltech’s The Loh Down on Science. “Sila” is written by Canadian playwright Chantal Bilodeau and directed by Arden Thomas.

“The Washing of Water,” scheduled for 7 p.m. June 1, is based on more than 60 interviews conducted across Altadena, La Canada Flintridge and Northwest Pasadena. “The Washing of The Water” follows an artist activist, a homeless teenager and a mother whose stories intersect as they fight a polluted past and search for a fresh start amidst the wilds of the Hahamongna Watershed Park. The play will be performed in the Beckman Institute Auditorium, Caltech, 400 S Wilson Ave, Pasadena.

The New Plays Festival at Caltech is the staged reading of science-based plays.

Filed Under: Our Blog Tagged With: arts, caltech, science

Pasadena real estate market going strong

May 15, 2013 By davina Leave a Comment

Last week, the Pasadena real estate market appeared to be cooling its heels as demand leveled off and San Marino took center stage. This week, we see most of the Pasadena real estate market bouncing back with positive conditions, emphasizing again, how much sales patterns can change from one week to the next. While demand in San Marino levels off this week, it picks up again in Pasadena and La Canada Flintridge.

These trends are based on Altos Research Real-Time Real Estate Data, and they fluctuate from week to week, so keep watching Classic Pasadena week by week for the latest news of housing conditions in your area.

If you’re interested in learning more about what your property could bring on the market, visit our Home Values page.

Pasadena real estate market: By the numbers

Overall, the market conditions in Pasadena are heating up and demand is on the rise. Here’s the breakdown by zip code:

The median list price this week is $659,500. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Average days on market: 68
Asking price per square foot: $382
Market Action Index score: 43.5

The median list price this week is $1,100,000. Demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more properties come available, these are positive trends for the market.
Average days on market: 105
Asking price per sq foot: $507
Market Action Index score: 32.7

The median list price this week is $899,000, a climb from last week’s numbers. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue, especially if the index falls to the Buyer’s zone.

Average days on market: 98
Asking price per sq foot: $536
Market Action Index score: 35.3

The median list price this week is $899,000. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.

Average days on market: 93
Asking price per sq foot: $450
Market Action Index score: 42.4

See Pasadena real estate listings

LA CANADA FLINTRIDGE

Intermediate Chart

The median listing price this week is $1,780,000. Demand is on the rise in La Canada Flintridge this week. Home sales are outstripping supply, and market action is looking more positive. Even so, prices are fairly flat in this market.

Average days on market: 78
Asking price per square foot: $574
Market Action Index score: 33.2
See La Canada real estate listings

SAN MARINO

Intermediate Chart
The median list price this week is $2,244,000, up slightly from last week. Demand is cooling off this week, and if the trends hold, we may see the market fall into the buyers’ zone, complete with declining prices. Trends fluctuate from week to week, so we’ll need to key an eye on San Marino.

Average days on market: 67
Asking price per sq foot: $768
Market Action Index score: 41

See San Marino real estate listings

SOUTH PASADENA

The median list this week is $988,000. Despite this week’s down tic, price trends have generally been moving up lately. The market is heating up once more, with more demand and fewer listings joining the market contributing to healthy prices.

Average days on market: 87
Asking price per sq foot: $525
Market Action Index score: 48.2

Search homes in South Pasadena

ALTADENA

Intermediate Chart
The median list this week is $610,000. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone.

Average days on market: 71
Asking price per sq foot: $369
Market Action Index score: 41.6

Search homes in Altadena

For a great overview of market price trends in the area, visit our Market Map. Simply click the city for which you want information, and you’ll see a graphic giving you more information. (If you scroll down in the new window that appears, you can even fill in your email address tor receive a more complete report.)

The Pasadena real estate market is seeing more sales demand and fewer listings, making it a great time to be a seller.

Filed Under: Our Blog Tagged With: market trends, pasadena real estate, real estate trends, San Gabriel Valley

Pasadena architecture: A look at 1940 Forward

May 9, 2013 By davina Leave a Comment

The Lawrence Test House – photography by Dennis Hill

If you enjoy Pasadena architecture, you won’t want to miss two events in May that will focus on mid-century and forward design. Pasadena 1940 Forward: Three Views of the Recent Past offers presentations by noted architectural historians, while Pasadena 1940 Forward: Residential Architecture of the Recent Past offers home tours (including the homes of some noted architects).

Pasadena Heritage is offering the programs as part of Pacific Standard Time Presents: Modern Architecture in L.A., a Getty-initiated celebration of the city’s modern architectural heritage through exhibitions and programs at cultural institutions in and around L.A.

Pasadena architecture: Presentations on the recent past

Unique views and perceptions of the evolution of Pasadena’s residential architecture will be the focus of this Pasadena 1940 Forward presentation and discussion, from mid-century masterpieces to planned communities and their places in the community’s architectural traditions. Presentations will be given by three noted architectural historians, Alan Hess, Barbara Lamprecht and Daniel Paul.

The presentations will take place in the 1975 Pasadena Presbyterian Church, designed by noted Pasadena architect John Gougeon.

The event is at 7 p.m. May 16. Tickets are $18 for Pasadena Heritage members and $20 for nonmembers. For more information call 626-441-6333, or visit www.pasadenaheritage.org

Pasadena architecture: Touring modern-era homes

Visit six exceptional modern-era homes in the Pasadena area for this 1940 Forward events. Participants drive themselves, but experienced docents will lead tours through each private home. Guests will have the opportunity to explore the work of several distinguished architects.

The tour includes the homes of architects Lawrence Test, Ted Tyler and Harold Zook. The tour will also feature two homes designed by Conrad Buff & Donald Hensman, as well as a home designed by Lloyd Wright. Test’s home has recently been restore and is open to the public for the first time. Harold Zook will be present to meet tour guests at his own 1951 home.

Tickets are on sale now. The homes tour is scheduled for 9 a.m. to 4 p.m. Sunday, May 18. Tickets are $40 for members and $50 for non-members. For more information call 626-441-6333, or visit www.pasadenaheritage.org

Major support for the Pasadena 1940 Forward has been provided by the Getty Foundation.

The Pasadena Heritage organization provides a number of events throughout the year, and a well-known architectural jewel, The Gamble House, regularly offers tours. Read our article, “Live in Pasadena, with historic architecture” to learn more about it.

The history of Pasadena architecture is fascinating, so don’t miss this chance to explore your city’s recent past.

Filed Under: Our Blog Tagged With: architecture, mid-century, modern-era, pasadena

San Marino real estate market going strong

May 8, 2013 By davina Leave a Comment

The San Marino real estate market appears to be performing the best this week as we move out of our initial spring home-selling burst and demand begins to cool in most of San Gabriel Valley. Despite a slight slip in prices, San Marino real estate continues to be in high demand this week, with sales exceeding new inventory for weeks. If the trends hold, it won’t be long before those prices shoot upward again.

Other markets in San Gabriel Valley are seeing conditions cool as demand wanes relative to the number of properties joining the market, but prices are mostly holding steady for now.

These trends are based on Altos Research Real-Time Real Estate Data, and they fluctuate from week to week, so it’s possible we’ll see the markets heat up again fairly soon.

Keep keep watching Classic Pasadena week by week to stay aware of housing conditions in your area.

If you’re interested in learning more about what your property could bring on the market, visit our Home Values page.

San Marino real estate: By the numbers

The median list price this week for San Marino real estate is $2,198,000. Home sales have been exceeding new inventory for several weeks. Prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, we are likely to see upward pressure on pricing.

Average days on market: 69
Asking price per sq foot: $765
Market Action Index score: 41.6

See San Marino real estate listings

Other San Gabriel Valley markets

Intermediate Chart

The median listing price this week is $1,739,500. Prices have been on a downward trend, and this week – while essentially flat – doesn’t break the cycle. The market has been cooling, with demand levels low relative to the available inventory of homes on the market. It’s likely prices will continue to fall unless we see a major shift.

Average days on market: 119
Asking price per square foot: $574
Market Action Index score: 32.3
See La Canada real estate listings

San Marino real estate
91104
The median list price this week is $639,500. Prices are on an upward trend, but demand is starting to cool. Because we’re in a seller’s market, it may take a few more weeks of slack demand before we see prices start to fall.

Average days on market: 74
Asking price per square foot: $392
Market Action Index score: 41.6

91105
The median list price this week is $1,138,000. There was little price change from last week, though we’ve seen a gradual uptrend over the past few weeks. Demand levels are falling off relative to the inventory coming onto the market. Prices continue to move higher anyway – possibly because of newer, larger homes being listed.
Average days on market: 85
Asking price per sq foot: $499
Market Action Index score: 29.4

91106
The median list price this week is $899,000, a climb from last week’s numbers. Home sales have been exceeding new inventory for several weeks, but prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.

Average days on market: 75
Asking price per sq foot: $522
Market Action Index score: 33.4

91107

The median list price this week is $899,000. We continue to sit at all-high prices for this market, with little change from last week. Market conditions have been cooling, however, with demand falling off. It may take a few more weeks of slack demand before we see an impact on prices.

Average days on market: 83
Asking price per sq foot: $435
Market Action Index score: 41.6

See Pasadena real estate listings

Intermediate Chart
The median list this week is $1,043,000. Again this week we see a downward notch for prices. Demand

levels are low relative to the available inventory.

Average days on market: 140
Asking price per sq foot: $559
Market Action Index score: 46.7

Search homes in South Pasadena

San Marino real estate
The median list this week is $635,000. Price trends continued their recent uptrend this week. While still below the market’s price high-point, we’ve seen a nice run recently. The market is cooling in terms of supply and demand. Yet, prices continue to move higher – possibly due to newer, larger homes being listed.

Average days on market: 95
Asking price per sq foot: $358
Market Action Index score: 43.3