Welcome to the picturesque city of Pasadena, California! In this blog post, we will delve into the real estate market specific to zip code 91103, uncovering the trends and dynamics that make this area so unique. Despite being a small zip code, 91103 packs a punch, especially due to its close proximity to the world-famous Rose Bowl stadium and other notable attractions.
Market at a Glance July 19, 2023. As of this month, there are 17 active properties on the market in zip code 91103. The median list price stands at an impressive $1,145,000, while the average price per square foot is $850. These figures indicate that the area offers desirable properties with relatively high-value potential.
Over the past 30 days leading up to July 19, three homes have been sold in the zip code, boasting a median sale price of $2,525,000. The average time these homes spent on the market was 75 days, showcasing a fairly quick turnover and competitive demand.
The Rose Bowl Influence. One of the primary reasons for the heightened appeal of this area is its close proximity to the Rose Bowl stadium. Home to the famous Rose Bowl Game, an annual college football bowl game, and numerous concerts and events, the stadium brings a vibrant atmosphere to the neighborhood. This, in turn, increases demand for housing in the area, as people look for homes with easy access to entertainment and recreational activities.
Lind Vista: A Desirable Locale. Lind Vista, located on the south side of zip code 91103, is a sought-after neighborhood known for its attractive homes and desirable location. Over the last two years, inventory has been minimal, indicating that homeowners in Lind Vista tend to hold on to their properties, making the area quite exclusive. As a result, when homes in this neighborhood do hit the market, they often generate significant interest and competition among buyers.
North East Side: A Contrasting Landscape On the North East side of zip code 91103, the real estate landscape is different from Lind Vista. Here, the prices are significantly lower than the homes closer to the Rose Bowl and Lind Vista area. This variance in prices creates a diverse market within the small zip code, catering to a wider range of homebuyers with different budgetary considerations.
A Strong Seller’s Market.Overall, zip code 91103 leans toward being a strong seller’s market, meaning that there are more buyers than available properties. Limited inventory, particularly in Lind Vista, and the desirable location close to the Rose Bowl contribute to this trend. As a result, sellers often have the upper hand in negotiations, and properties can sell quickly at competitive prices.
Beyond Real Estate: Pasadena’s Gems. Apart from its exciting real estate market, Pasadena is home to several noteworthy attractions. The Rose Bowl Stadium, as mentioned earlier, draws people from far and wide for its football games and concerts. Additionally, the Norton Simon Museum offers a remarkable collection of art spanning centuries and continents, providing a cultural haven for art enthusiasts.
For those looking to stay active and enjoy the California sun, the Pasadena Aquatic Center offers excellent facilities for swimming and other aquatic sports.
Zip code 91103 in Pasadena, California, offers a captivating blend of a hot real estate market, diverse neighborhoods, and proximity to renowned attractions like the Rose Bowl Stadium and the Norton Simon Museum. Whether you’re a homebuyer looking for a property with strong investment potential or a seller seeking to capitalize on the demand, this area presents exciting opportunities.
If you’re considering making Pasadena your new home or are curious about its real estate market, don’t hesitate to explore zip code 91103. It’s an area that embraces the essence of Pasadena’s allure, making it an excellent choice for both residents and investors alike.