Here is a Market Report for Altadena and Pasadena for the week of 9/22.
Altadena
- This week the median list price for Altadena, CA 91001 is $1,089,000 with the market action index hovering around 81. This is about the same as last month’s market action index of 81. Inventory has increased to 29.
- In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to have been falling a bit recently. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.
- Click here for a detailed report.
Pasadena
- This week the median list price for Pasadena, CA 91101 is $685,000 with the market action index hovering around 26. This is an increase over last month’s market action index of 18. Inventory has held steady at or around 1.
- Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
- Click here for a detailed report.