by Kathy Gibson | Aug 21, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Aug 21 2023 This week the median list price for a single family home in Pasadena, CA is $1,499,950 with the market action index hovering around 56. This is an increase over last month’s market action index of 53. Inventory has increased to 84. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Altadena, CA 91001 Mon Aug 21 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 58. This is less than last month’s market action index of 59. Inventory has decreased to 29. The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence....
by Kathy Gibson | Aug 7, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Aug 07 2023 This week the median list price for a single family home in Pasadena, CA is $1,596,500 with the market action index hovering around 53. This is an increase over last month’s market action index of 52. Inventory has increased to 88. 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. South Pasadena, CA 91030 Mon Aug 07 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,895,000 with the market action index hovering around 46. This is about the same as last month’s market action index of 46. Inventory has decreased to 14. 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...
by Kathy Gibson | Jul 10, 2023 | Buying, Market, Neighborhood, Selling
The U.S. economy survived the first half of 2023 without going into a recession, as consumers turned out to be more resilient than most economists expected. Despite going through high inflation rates, banking crisis, and debt ceiling issues in the first six months of the year, consumers remain upbeat, and their confidence recovered somewhat in recent weeks. The housing market, on the other hand, has continued to encounter headwinds since late 2022, as rates stayed elevated and housing supply remained tight. With an increase in home building activity at the national level, we could see some slight improvement in market conditions in the U.S., but tight inventory will likely remain the norm in California in the second half of the year until rates start coming down meaningfully. Pasadena, CA Mon Jul 10 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 53. This is an increase over last month’s market action index of 52. Inventory has decreased to 83. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. South Pasadena, CA Mon Jul 10 2023 This week the median list price for a single family home in South Pasadena, CA is $1,773,500 with the market action index hovering around 50. This is less than last month’s market action index of 55. Inventory has increased to 18. The market has been cooling off a bit in recent...
by Kathy Gibson | Jun 26, 2023 | Uncategorized
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...
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...