Realtor®

Monday Market Stats May 6

Monday Market Stats May 6

Pasadena, CA Mon May 06 2024 This week the median list price for a single family home in Pasadena, CA is $2,188,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 53. Inventory has increased to 73. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current...

Monday Market Stats April 15

We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. Pasadena, CA Mon Apr 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,724,000 with the market action index hovering around 53. This is an increase over last month’s market action index (MAI) of 52. Inventory has decreased to 66. 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 climb....

Monday Market Stats April 8

Pasadena, CA Mon Apr 08 2024 This week the median list price for a single family home in Pasadena, CA is $1,880,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 54. Inventory has held steady at or around 59. The market has started cooling and prices have recently plateaued. Since we’re in the Seller’s zone, watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on...

Monday Market Stats March 25

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...

Monday Market Stats March 18

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....