Looking at all of the new construction projects in town you would never guess that Pasadena real estate is experiencing a slow down. If you have made the decision to purchase a condominium or townhome then take your seat front and center. The catbird seat. You have many options these days. No matter what you are looking for in terms of amenities or pricing, chances are it is available, and less expensive than it was six months ago. Prices have come down from their listing highs. Based upon the recent rate of sale we may see further reductions.

Catalina Villas is a 15 unit complex located at 480 N. Catalina Avenue. 8 properties are currently for sale. A 2 bed and 3 bath unit featuring 1009 square feet is currently listed for $459,000, down from $544,500 last June. Association fees are $250/month. Units with 2 beds and 2 baths are listed for $399,500.

Fair Oaks Summit – a 24 unit complex with 10 units currently for sale. A 3 bed / 3 bath unit was listed last September for $589,000 and is offering 1709 square feet. It has been reduced to $450,000. Located between Washington and Woodbury on N Fair Oaks, this craftsman style unit has an association fee of $238/month. If you desire new construction, these units offer a great value.

Cinema Lofts feature a total of 37 units, however only 3 units have been reported sold with another 2 units pending. These lofts are 1 bed and 1 bath ranging in price from $385,000 to $395,000. Properties have been listed for 3 months, with association fees in the range of $159.00/month. These units appear to be very elegantly appointed with some great features and amenities.

Belleme Terrace – ranging in price from $595,000 for a 2 bedroom, 3 bath with 1163 sq ft to a unit of 2307 sq ft priced at $1,099,000. This 16 unit complex has 12 units available for sale. These units were listed for sale in November last year and have had price reductions in the range of 6%. A beautifully designed complex unlike any other in Pasadena.

More Coming

There are several other projects currently in the construction phase including Lake@Walnut, a mixed use project containing 106 residential units that are being constructed on top of retail space which sits on the ground floor. To the west we have Delacey Place. Another mixed use project with first floor retail and 30 residential units.

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