Realtor®

Monday Market Stats July 31

Monday Market Stats July 31

Pasadena, CA Mon Jul 31 2023 This week the median list price for a single family home in Pasadena, CA is $1,595,000 with the market action index hovering around 53. This is about the same as last month’s market action index of 53. Inventory has increased to 87. 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. Altadena, CA 91001 Mon Jul 31 2023 This week the median list price for a single family home in Altadena, CA 91001 is $1,399,000 with the market action index hovering around 59. This is an increase over last month’s market action index of 58. Inventory has decreased to 35. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices....

Monday Market Stats

Pasadena, CA Mon Jun 26 2023 This week the median list price for a single family home in Pasadena, CA is $1,499,991 with the market action index hovering around 52. This is an increase over last month’s market action index of 50. Inventory has increased to 91. 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 market action index. If the market heats up, prices are likely to resume an upward climb. Altadena, CA Mon Jun 26 2023 This week the median list price for a single family home in Altadena, CA is $1,249,000 with the market action index hovering around 58. This is about the same as last month’s market action index of 58. Inventory has increased to 35. Market appears to have begun to cool. As we’re still notably in a Seller’s market, prices have not yet adjusted. If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect this condition if the index falls to the Buyer’s...

Are You A Prisoner To Your Interest Rate?

Op-Ed written by Ron Wynn, Compass So Cal agent In the fast-paced and ever-changing world we live in, it’s easy to become complacent and comfortable with what we have. This is particularly true when it comes to our financial decisions, especially when it involves something as significant as an interest rate. Many individuals find themselves holding onto low-interest rates for dear life, afraid to let go and explore new opportunities. But what if this mindset is holding us back from truly living a full and exciting life? In this article, we will delve into the concept of being a prisoner to your interest rate and challenge you to reevaluate your priorities. The Rent-Controlled Apartment Dilemma: Let’s start by examining the example of individuals who have lived in rent-controlled apartments in New York for several decades. While it may seem like an advantageous situation on the surface, there’s a deeper question to consider: Have they missed out on other experiences and opportunities by holding onto their rent-controlled status? While their friends and peers moved around, exploring different neighborhoods, raising families, and building equity through real estate investments, those clinging to their rent-controlled apartments may have limited themselves in terms of personal growth and financial gains. The 3% Interest Rate Trap: Similarly, many individuals today find themselves trapped by low-interest rates on their mortgages or other loans. While a 3% interest rate is indeed attractive and worth preserving, it’s essential to recognize the potential trade-offs. By fixating solely on keeping that low rate, individuals may miss out on life-changing opportunities, such as pursuing new career paths, starting their own businesses, or...

Monday Market Stats

The economy is growing, but at a slower pace. The GDP reading for the first quarter of the year suggests that the economy expanded, but momentum fizzled out. Consumers have been holding back on retail sales and personal spending despite improving real income for nine months in a row, while labor costs and inflation have been rising due to a strong labor market. The recent bank failures have added uncertainty to the economy’s long-term health and have suppressed consumer confidence. On the bright side, the short supply of existing homes for sale has pushed more home buying activity into the newly constructed housing sector, which comprised 33.2% of total single-family housing inventory in March – almost double the average before the pandemic. Pasadena, CA Mon May 01 2023 This week the median list price for Pasadena, CA is $1,599,500 with the market action index hovering around 51. This is an increase over last month’s market action index of 47. Inventory has decreased to 82. 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 trend. Altadena, CA Mon May 01 2023 This week the median list price for Altadena, CA is $1,224,995 with the market action index hovering around 56. This is less than last month’s market action index of 57. Inventory has increased to 30. 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...

Monday Market Stats

Pasadena, CA Mon Feb 06 2023 This week the median list price for Pasadena, CA is $1,394,750 with the market action index (MAI) hovering around 44. This is an increase over last month’s market action index of 43. Inventory has increased to 88. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again. Altadena, CA 91001 Mon Feb 06 2023 This week the median list price for Altadena, CA 91001 is $1,307,500 with the market action index (MAI) hovering around 51. This is less than last month’s market action index of 54. Inventory has increased to 24. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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...