Bumpy Road Ahead — Slowing Down in Pasadena

The Pasadena Symphony Orchestra has cancelled a November 15 concert because of stock market volatility and its uncertain effect on donors, as Pasadena: Center of the Universe reports. The blog also mentioned that the Pasadena Playhouse just received its largest single gift ever. I hope its board gets good advice about where to park this money.

A municipal crew installing speed humps is the subject of today’s Pasadena Daily Photo. The sight of yellow-reflective-vest-clad workers completing a real civic safety improvement is a cheerful one for me. This was a real job, with a real benefit. Whether we are driving on a residential side street, or managing a large performing arts organization, we all need to slow down and think.

The market has certainly slowed. LA Land charts an accelerated drop in median listing prices throughout the region, and a recent slowdown in inventory. Listings in Pasadena were on the market for an average of 88 days, according to Redfin’s neighborhood pages. Here are three of the most recent sales, along with three of the newest listings:

SALES
2221 Casa Grande Street, Pasadena 91104
$864,545 (10/6/08)
This was originally listed on July 19, 2008 at $910,000.

310 Malcolm Drive, Pasadena 91105
$885,000 (10/3/08)
Originally listed August 12, 2008 at $949,000.

3746 Mayfair Drive, Pasadena 91107
$630,000 (10/3/08)
On July 24, 2008, the list price on this property was reduced from $699,000 to $655,000.

LISTINGS

2037 Jefferson Drive, Pasadena 91104
$729,000
5 bed/2.25 bath
2,274 sq.ft.
$321 per sq.ft.
On Redfin 1 day

1431 Brixton Road, Pasadena 91105
$1,095,000
4 bed/2 bath
1,946 sq.ft.
$563 per sq.ft.
On Redfin 6 days

3510 Landfair Road, Pasadena 91107
$749,000
3 bed/1.75 bath
square footage not listed
On Redfin 1 day