by Kathy Gibson | Oct 9, 2023 | Market, Neighborhood
Pasadena, CA Mon Oct 09 2023 This week the median list price for a single family home in Pasadena, CA is $1,600,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 54. Inventory has increased to 93. 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...
by Kathy Gibson | Oct 2, 2023 | Uncategorized
Pasadena, CA Mon Oct 02 2023 This week the median list price for a single family home in Pasadena, CA is $1,600,000 with the market action index hovering around 53. This is less than last month’s market action index (MAI) of 55. Inventory has increased to 91. 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 prices....
by Kathy Gibson | Sep 26, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Tue Sep 26 2023 This week the median list price for a single family home in Pasadena, CA is $1,495,000 with the market action index hovering around 55. This is about the same as last month’s market action index of 55. Inventory has held steady at or around 91. Market action index (MAI) compares rate of sales vs. inventory. The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several 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 persistently, prices are likely to resume an upward climb. South Pasadena, CA 91030 Tue Sep 26 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,789,000 with the market action index hovering around 52. This is about the same as last month’s market action index of 52. Inventory has increased to 12. 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 prices....
by Kathy Gibson | Sep 18, 2023 | Buying, Market, Neighborhood, Selling
Buyers and sellers’ sentiments remained virtually unchanged in August as housing market participants wait for more signals on what the Fed’s next move will be in the upcoming FOMC meeting. With the economy looking stronger than what was anticipated six months ago, interest rates will remain elevated for a little longer. Consumers could be tapped out, however, as costs of borrowing continue to rise, and their financial conditions begin to tighten up. As such, the economy will likely show more signs of slowing later this year and the Central Bank will have no choice but to cut rates starting in the first quarter of 2024. Mortgage rates will decline starting in the fourth quarter of this year and will further improve next year. The decline will likely be gradual though. Pasadena, CA Mon Sep 18 2023 This week the median list price for a single family home in Pasadena, CA is $1,462,000 with the market action index hovering around 54. This is about the same as last month’s market action index of 54. Inventory has increased to 90. Market Action Index This answers “How’s the Market?” by comparing rate of sales versus inventory. 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 market action index (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 prices....
by Kathy Gibson | Apr 17, 2023 | Buying, Market, Neighborhood, Open House, Selling
Economic data released last week showed that the U.S. economy is losing momentum as the lagged effects of monetary policy tightening slow growth as intended. Retail sales and Inflation posted its second-straight monthly decline. However, prices remain elevated for core goods and services which will likely push the Fed to hike rates at their May meeting one last time by another 25 basis points. Consumers adjusted their expectations around inflation and although still relatively pessimistic overall, their long-term sentiment remains stable. Californians will continue to face inventory challenge besides in 2023, as fewer REALTORS® are listing properties ahead of the usual spring home buying season. Pasadena, CA Mon Apr 17 2023 This week the median list price for Pasadena, CA is $1,650,000 with the market action index hovering around 49. This is an increase over last month’s market action index of 47. Inventory has decreased to 81. The market has been strong for several consecutive weeks. Reflecting these inventory conditions, with the MAI in the Seller’s zone, it is not surprising that prices have recently resumed their climb. Los Angeles, CA Mon Apr 17 2023 This week the median list price for Los Angeles, CA is $1,499,999 with the market action index hovering around 42. This is an increase over last month’s market action index of 40. Inventory has decreased to 1,033. 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...