THE CITY OF PASADENA


Current Local News

January 3, 2008

The La Loma Bridge Project is scheduled to start construction in the fall of 2008 and expected to be completed by spring 2010.  The city approved the retrofit and rehab to meet current seismic standards. 

January 5, 2008 - 3:00 - 8:00 pm:  Pasadena Cruisin' Old Car Show

January 20, 2008 - 11:30 - 1:30 pm:  The Pasadena Doo Dah Parade

January 15, 2008 - 6:30 pm:  Steve Cannell's book signing at Vromen's on Colorado Blvd.

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CURRENT PASADENA MARKET STATISTICS:

January 6, 2008

Annual Market Statistics:

Units Sold:

2007:     803
2006:     831
2005:     997

Average Sales Price:

2007:     $959,511
2006:     $966,179
2005:     $880,279

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Quarterly Pasadena Market Statistics:

Units Sold:

1st Quarter 2007:     172
2nd Quarter 2007:     251
3rd Quarter 2007:     168
4th Quarter 2007:     122

Average Sales Price:

1st Quarter 2007:     $980,612
2nd Quarter 2007:     $964,359
3rd Quarter 2007:     $960,890
4th Quarter 2007:     $988,659

Absorption Rate:

1st Quarter 2007:     2.3 months
2nd Quarter 2007:     3.2 months
3rd Quarter 2007:     4.6 months
4th Quarter 2007:     4.3 months

The Pasadena housing market remained relatively strong in 2007, with softening evident in the number of sales and increased inventory, but only a slight decrease in the year-over-year average sales price.

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About Pasadena:

Located in the San Gabriel Valley, outside of Los Angeles, Pasadena is a beautiful city with a rich historical and cultural heritage.  Pasadena began as a tourist center and winter resort for the wealthy.  It came about because of a group of friends wishing to escape the cold Indiana winter climate formed an investment group and purchased a portion of the Rancho San Pasqual.

Pasadena incorporated in 1886 mainly to abolish saloons and the sale of alcohol in the area.  In 1939, in a study of U.S. cities, Pasadena was rated "the best city of all in which to live".
The word Pasadena means "valley" in the Ojibwa (Chippewa) Indian language.   In 1880 the population of Pasadena was 391.  In 2005, the California Finance Department estimated the population to be approximately 146,166.  In 2000, there were approximately 51,844 occupied housing units.  45% were owner occupied.  Pasadena covers approximately 22.5 square miles.  The average daytime temperature is 78 degrees annually and 53 degrees at night.  The smoggiest month is August.   

Located ten miles northeast of downtown Los Angeles, near the California beaches and bordered by the San Gabriel mountains to the north, Pasadena is brimming with places to enjoy, including many restaurants, museums, universities, theaters, shopping malls and districts, the convention center, the Arroyo Seco hiking trails, etc.  Pasadena is well-known for the Tournament of Roses, the Rose Bowl, the Jet Propulsion Laboratory and the California Institute of Technology.  The area referred to as "Old Pasadena", or "Old Town", is a major attraction, of sorts, in Southern California.  There is an overall sense of excitement in Pasadena, coupled with the balance and quality felt as a result of the city's architectural treasures and historical character.  For more information and Pasadena links, please go to "Great Area Links". 

The city of Pasadena has a wealth of historic structures.  The Rose Bowl was constructed in 1922.  Pasadena City Hall is one of the finest examples of the California Meditteranean style architecture.  The La Loma Bridge Project is scheduled to start construction in the fall of 2008 and is expected to be completed by spring of 2010.  The city approved the retrofit and rehab of the historic bridge to meet current seismic standards.  

Some Pasadena neighborhoods are locally known as the following:  

     - the Oak Knoll Neighborhood or Hillcrest Area
     - the San Rafael Area
     - the Madison Heights Area
     - the Linda Vista Area
     - the Arroyo Area 
     - the Allendale Area
     - Chapman Woods
     - the Prospect Park Neighborhood
     - Bungalow Heaven
     - the Upper and Lower Rancho Areas
     - the Cal Tech Area 

The topography varies from level sections to very hilly, view neighborhoods in the foothills.  Almost 30% of all homes in Pasadena were constructed before 1939.  Some of the well-known, talented architects were Marston and Van Pelt, Green and Green, Wallace Neff, Roland E. Coate, and Myron Hunt.    Some of the architectural styles that flourished in Pasadena are the Mediterranean, Spanish, Monterey Colonial, Craftsman, English, Tudor or Tudor Revival, Mount Vernon Colonial, Cape Cod Colonial, Dutch Colonial, California Ranch, Mission and Bungalow.

There are many excellent private schools in the city of Pasadena and the surrounding area.  Of note are Polytechnic School, Chandler School, Mayfield Junior and Senior Schools, Westridge School, St. Francis High School, Loyola High School, Flintridge Sacred Heart Academy, Flintridge Preparatory School, Maranatha School, etc.  Check
www.greatschools.net for information on public and private school test scores, teacher-student ratios, etc.

The Tournament of Roses has held an annual parade in Pasadena since 1890.  Every year the streets of Pasadena are literally filled with approximately one million people who come to watch the parade.  Many of the local families make it a tradition to camp out on the parade path.  Apparently, throwing marshmallows at passing cars is an example of the festivities that go on during the night before the parade begins.

The history of Pasadena can be found at the web site
www.ci.pasadena.ca.us/History.

To reach me, please call:
 
Jennifer Kelly
Sotheby's International Realty
626-396-3943