Home Prices Surge in Many Parts of Pasadena

By David Cross & Brian Day

Home prices have seen significant jumps in Pasadena over the past year, outpacing price increases at the county level in three of the city’s six postal codes, according to data released by CoreLogic.

Local real estate experts say it comes down to simple supply and demand, as the market is saturated with eight times more buyers than sellers.

The median price of a single-family home in Los Angeles County in August was $750,000, representing a 14.5 percent increase over the prior year, according to the CoreLogic report.

Three areas in Pasadena saw prices surge at an even higher rate, the data shows. Only one postal code — 91103, encompassing Northwest Pasadena, the Rose Bowl, and Brookside Golf Course — saw a decrease in the median home sale price at 7.7 percent, bringing the median home price to $708,000.

Postal code 91106, including the Oak Knoll neighborhood in the central portion of the city, saw the biggest price increase at 30.5 percent, ending with a median price of $1.59 million in August.

The 91101 postal code, centered around the Playhouse District, saw single-family home prices surge by 24.1 percent to a median of $726,000.

The 91104 postal code, encompassing the city’s northeast portion, had a median home price of $1.02 million, representing an increase of 14.8 percent, according to CoreLogic.

The median home price in the 91105 postal code at the southwest end of Pasadena reached $1.8 million after climbing by 12.5 percent, while the 91107 postal code, containing the East Pasadena and Kinneloa Mesa neighborhoods, saw a median price of $1.15 million following an 8.1 percent increase.

Bill Podley, a partner at the dpp real estate real estate firm in Pasadena, said the increases were “a function of supply and demand.”

To read the full article visit their website here.

You Might Also Like...
Recent Posts

Grand Estate Outside Pasadena Tied to a Sensational Double Murder in the 1940s Heads to Auction

By Nancy A. Ruhling A magnificent Old Hollywood estate near Pasadena, California, that was connected to a notorious double murder that made headlines around the world in the 1940s is heading for auction in October. The property, which is in the city of La Cañada Flintridge in the foothills of the Verdugo Mountains, was originally… Keep reading

11 Homes for Sale in Southern California

Revel in a curated selection of some of our most striking properties located throughout Los Angeles county. The iconic Art Deco estate in La Cañada and up for auction for the first time in its history is not to be missed. Our latest listings cover the full spectrum of Southern California living, ranging from a 1904… Keep reading

Ravishing Jazz Age Estate in La Cañada Hits the Auction Block

by Pauline O’Connor On October 13, bidding will open for one of the grander properties in the upscale hamlet of La Cañada Flintridge. Known as the Overell Estate, the luxurious residence was constructed in 1929, at a then-astronomical cost of $80,000, for prosperous furniture dealer Walter Overell and his society-maven wife, Beulah. A blend of… Keep reading