Pasadena real estate snapshot

Pasadena or “Crown of the Valley,” is famous for hosting the annual Rose Bowl, the most prestigious collegiate football postseason game held at the historic Rose Bowl Stadium on New Year’s Day. It dates back to 1902, and has since evolved into one of Pasadena’s long-standing and most beloved traditions.

Old Pasadena, a beautifully preserved historic district spanning 22 blocks, has become a favorite shopping and entertainment stop. Its turn-of-the-century architecture, renovated brick storehouses and open square layout reminiscent of Italian piazzas blends with the contemporary boutiques, mod galleries and thriving nightlife that colors this relic of the past.

Pasadena’s penchant for preserving its history has remained, even as the city looks to the future. Following the state-wide trend of double-digit appreciation, Pasadena real estate experienced an 18 percent home price gain from 2004-2005, according to money.cnn.com. And despite a median home price of $585,000 and an average home price at $406,000, Pasadena homes for sale are quite affordable by California standards. According to Coldwell Banker’s annual Home Price Comparison Index, a 2,200-square-foot house with four bedrooms, 2.5 baths, a family room and a two-car garage in Pasadena would cost nearly $790,000. Even as the affordability gap widens across California’s real estate markets, Pasadena remains secure in its unique charm and competitively priced market.

Sources:
http://en.wikipedia.org/wiki/Pasadena%2C_California
http://www.pasadenacal.com/pk1.htm
http://www.ci.pasadena.ca.us/publicworks/PNR/ArroyoSeco/
http://www.census.gov/population/www/
http://www.homegain.com/local_real_estate/CA/pasadena.html
http://money.cnn.com/magazines/moneymag/bplive/2006/snapshots/PL0656000.html
http://money.cnn.com/pf/features/lists/hpci_data/index.html