by Kathy Gibson | Nov 4, 2024 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Nov 04 2024 This week the median list price for a single family home in Pasadena, CA is $1,804,500 with the market action index hovering around 46. This is an increase over last month’s market action index of 45. Inventory has held steady at or around 98. Market Narrative 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 so watch changes in the MAI. If the market heats up, prices are likely to resume an upward...
by Kathy Gibson | Oct 7, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
The housing market continues to adjust to the first rate cut by the Federal Reserve in years, sliding mortgage rates, and an economy that keeps surprising to the upside. Putting all of these factors together, the California Association of Realtors (C.A.R.) released its forecast for 2025 and expects both home sales and home prices to continue their upward trend. Pasadena, CA Mon Oct 07 2024 This week the median list price for a single family home in Pasadena, CA is $1,789,000 with the market action index hovering around 45. This is less than last month’s market action index of 49. Inventory has increased to 97. Market Narrative The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...
by Kathy Gibson | Apr 2, 2024 | Buying, Market, Neighborhood, Open House, Selling
The economy is showing solid first-quarter growth, boosting consumer confidence in their financial well-being. However, resilient consumer spending is preventing a decrease in inflation, posing a challenge for the Fed in lowering interest rates. The central bank is still expected to cut rates by 75 bps this year, with the first cut anticipated in June. If this prediction holds true, rates should start declining more sustainably in May, potentially benefiting the spring home buying season. Pasadena, CA Tue Apr 02 2024 This week the median list price for a single family home in Pasadena, CA is $1,980,000 with the market action index (MAI) hovering around 52. This is less than last month’s market action index of 55. Inventory has held steady at or around 63. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. ...
by Kathy Gibson | Mar 25, 2024 | Buying, Home and Garden, Market, Open House, Selling
Consumers have been feeling positive about buying and selling since the start of the year, and the latest housing market report released by the California Association of Realtors reflected the improvement in optimism. Both supply and demand increased in February and the competitiveness of the market appeared to be heating up as we entered the spring homebuying season. Pasadena, CA Mon Mar 25 2024 This week the median list price for a single family home in Pasadena, CA increased to $1,950,000 with the market action index hovering around 52. This is less than last month’s market action index of 53. Inventory has decreased to 65. While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend...
by Kathy Gibson | Feb 20, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
In January 2024, California’s real estate market showed promising signs of improvement, with both housing supply and buyer demand on the rise. Although the market may encounter challenges in the upcoming months due to fluctuating mortgage rates, there is optimism surrounding the lending environment for the year. It is anticipated that rates will become more favorable as inflation stabilizes in the second quarter, potentially leading to a surge in sales during the spring homebuying season as pent-up demand is unleashed. Pasadena, CA Tue Feb 20 2024 This week the median list price for a single family home in Pasadena, CA is $1,735,000 with the market action index (MAI) hovering around 51. This is about the same as last month’s market action index of 51. Inventory has held steady at or around 70. 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 so watch changes in the MAI. If the market heats up, prices are likely to resume an upward...