This week the median list price for Pasadena, CA is $1,500,000 with the market action index hovering around 62. This is less than last month’s market action index of 67. Inventory has decreased to 111.
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
This week the median list price for Altadena, CA 91001 is $1,224,000 with the market action index hovering around 87. This is less than last month’s market action index of 91. Inventory has increased to 32.
The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.