The housing market continues to show promising signs of a better spring homebuying season that we saw last year. Both closed and pending sales appear to have risen again in February and all signs point to a market that is heating up as days on market falls, the percentage of sellers discounting to attract buyers falls, and the percentage of home closing above list price rises.
Pasadena, CA
Mon Mar 18 2024
This week the median list price for a single family home in Pasadena, CA is $1,881,499 with the market action index hovering around 54. This is an increase over last month’s market action index of 49. Inventory has held steady at or around 70.
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.