Here is a Market Report for Altadena and Pasadena for the week of 01/03.
Altadena
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This week the median list price for Altadena, CA 91001 is $1,495,000 with the market action index hovering around 70. This is an increase over last month’s market action index of 69. Inventory has decreased to 19.
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Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
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Pasadena
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This week the median list price for Pasadena, CA 91101 is $1,400,000 with the market action index hovering around 49. This is about the same as last month’s market action index of 49. Inventory has held steady at or around 1.
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In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have recently resumed upward pressure.
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