by Kathy Gibson | Jul 15, 2024 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,877,500 with the market action index (MAI) hovering around 53. This is about the same as last month’s market action index of 53. Inventory has decreased to 84. 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 | May 13, 2024 | Buying, Market, Neighborhood, Open House, Selling
The Federal Reserve kept the fed funds rate unchanged at their last meeting, pointing to a robust economy and stagnant inflation. However, a disappointing 175k job additions hint at a cooling labor market. With the Fed signaling rate hike unlikelihood and weaker jobs data, mortgage rates fell to early April lows, raising hopes for declining rates in H2 2024. Pasadena, CA Mon May 13 2024 This week the median list price for a single family home in Pasadena, CA is $1,982,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 54. Inventory has increased to 78. 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....
by Kathy Gibson | Apr 8, 2024 | Buying, Market, Neighborhood, Open House, Selling
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...
by Kathy Gibson | Oct 16, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Oct 16 2023 This week the median list price for a single family home in Pasadena, CA is $1,649,500 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 55. Inventory has increased to 94. The market has started cooling and prices have been flat for several weeks. 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...