by Kathy Gibson | Jun 12, 2023 | Buying, Market, Neighborhood, Open House, Selling
Market Pulse Policy makers in Washington D.C. avoided a default on its debt obligations as Congress and the Whitehouse engineered a last-minute deal to raise the debt limit. In anticipation of the agreement, mortgage rates have already been heading down for several days after having risen above 7% as worries over the debt ceiling reached fever pitch. And despite higher rates in May, the U.S. labor market showed little signs of cooling down as employers added nearly 340,000 new jobs last month—well above expectations and raises the prospect that the Fed may have to raise rates one more time to help get inflation under control. Pasadena, CA Mon Jun 12 2023 This week the median list price for a single family home in Pasadena, CA is $1,549,495 with the market action index hovering around 51. This is an increase over last month’s market action index of 50. Inventory has increased to 88. Market Action Index = rate of sales vs. inventory 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. La Canada Flintridge, CA Mon Jun 12 2023 This week the median list price for a single family home in La Canada Flintridge, CA is $2,998,000 with the market action index hovering around 46. This is less than last month’s market action index of 48. Inventory has increased to 31. In the last few weeks...
by Kathy Gibson | Apr 24, 2023 | Buying, Market, Selling
Inventory might get worse before it gets better according to REALTORS® The California Association of REALTORS®’ (C.A.R.) monthly member survey revealed that inventory could pose a challenge ahead of the spring home buying season. The percentage of REALTORS® with listing appointments dropped for the second consecutive month, moving in the opposite direction than usual this time of the year. With less listing appointments, less properties are consequently being listed for sale as evident in the drop-off of REALTORS® reporting listing a property in April. Market Stats for Pasadena, CA Mon Apr 24 2023 This week the median list price for a single family home in Pasadena, CA is $1,599,000 with the market action index hovering around 50. This is an increase over last month’s market action index of 46. Inventory has decreased to 83. 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. La Canada Flintridge, CA Mon Apr 24 2023 This week the median list price for a single family home in La Canada Flintridge, CA is $3,584,500 with the market action index hovering around 40. This is about the same as last month’s market action index of 40. Inventory has increased to 22. Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to...
by Kathy Gibson | Sep 13, 2022 | Market, Neighborhood, Selling
Pasadena, CA Tue Sep 13 2022 This week the median list price for Pasadena, CA is $1,435,000 with the market action index hovering around 52. This is less than last month’s market action index of 53. Inventory has held steady at or around 116. 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. La Canada Flintridge, CA 91011 Tue Sep 13 2022 This week the median list price for La Canada Flintridge, CA 91011 is $3,092,000 with the market action index hovering around 49. This is less than last month’s market action index of 61. Inventory has increased to 34. 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...