After a promising start in January due to a decrease in rates, the housing market has shown some fluctuations with a recent decrease in pending sales. This suggests that the rebound may not be entirely smooth. However, there are positive signs that buyers are adapting to more typical rates compared to those experienced during the pandemic. Key market indicators point to a growing competitiveness as we approach the Spring home buying season.
Pasadena, CA
Mon Mar 04 2024
This week the median list price for a single family home in Pasadena, CA is $1,689,000 with the market action index hovering around 53. This is an increase over last month’s market action index of 51. Inventory has decreased to 64.
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.