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 | Oct 11, 2022 | Buying, Market, Neighborhood, Selling
Pasadena, CA Tue Oct 11 2022 This week the median list price for Pasadena, CA is $1,554,000 with the market action index hovering around 50. This is about the same as last month’s market action index of 50. Inventory has decreased to 112. 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 prices. La Canada Flintridge, CA 91011 Tue Oct 11 2022 This week the median list price for La Canada Flintridge, CA 91011 is $3,795,000 with the market action index hovering around 43. This is less than last month’s market action index of 44. Inventory has decreased to 29. The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. However, the market is still notably in the Seller’s zone so we haven’t yet seen prices move lower as a result. 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 zone....
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...