by Kathy Gibson | Nov 18, 2024 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling
Pasadena Real Estate Market Update: November 18, 2024The Pasadena housing market continues to favor sellers this week, with the median list price for a single family home holding steady at $1,823,500. The Market Action Index (MAI), which measures the balance between supply and demand, has slightly increased to 46, up from last month’s MAI of 45. This subtle shift reflects a strong seller’s market. Inventory UpdateThe number of homes available for sale has decreased to just 98, reinforcing the tight inventory conditions that have defined Pasadena’s real estate market recently. With demand outpacing supply, sellers remain in a strong position, but the market appears to have reached a relative equilibrium between sales and inventory. What Does This Mean for Buyers and Sellers?– For Sellers: Low inventory and sustained demand mean this is a great time to list your property. With the MAI firmly in seller’s market territory, competitive offers and favorable terms are more likely. – For Buyers: While competition remains high, market stasis could provide an opportunity to negotiate, especially if you’re ready to act quickly. Staying aware of new listings is key as inventory levels remain tight. What to WatchIf the market heats up further, with either a reduction in inventory or an increase in buyer activity, we may see prices begin to climb again. Keeping an eye on the Market Action Index will provide valuable insights into whether conditions are shifting more in favor of buyers or sellers. ConclusionPasadena’s real estate market remains robust, driven by limited inventory and steady demand. Whether you’re considering buying or selling, understanding the dynamics of the local market is essential...
by Kathy Gibson | Nov 4, 2024 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Nov 04 2024 This week the median list price for a single family home in Pasadena, CA is $1,804,500 with the market action index hovering around 46. This is an increase over last month’s market action index of 45. Inventory has held steady at or around 98. Market Narrative 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 MAI. If the market heats up, prices are likely to resume an upward...
by Kathy Gibson | Oct 22, 2024 | Uncategorized
When it comes to selling your home, first impressions matter. Potential buyers want to envision themselves living in your space, and that means your home needs to be in its best possible condition. In this article, we’ll provide you with a comprehensive guide on how to get your home ready to sell. From decluttering to staging, these tips will help you attract buyers and secure a successful sale without the need for any numerical references. Streamline Your Space Start by decluttering and depersonalizing your home. Remove personal photos and memorabilia, as these can distract potential buyers. Creating a clean, neutral ambiance will help buyers visualize their future in your property. When buyers walk into a space that feels personalized, they may have a hard time seeing themselves living there. Keep the decor simple and tasteful, allowing your home’s features to shine. Handle Any Cost-Effective Repairs Before listing your home, explore budget-friendly repairs that can enhance its appeal. Updating bathroom fixtures, giving the kitchen a minor facelift, or applying a fresh coat of paint are all affordable changes that can make a big difference. Be sure to also have any iffy appliances repaired if you plan to leave them. To find quality appliance repair service, connect with local pros online through a dedicated app that connects you with vetted experts who can schedule you quickly. Boost Curb Appeal Making a strong first impression is crucial when selling your home. The exterior of your property is the first thing buyers see, so it needs to be inviting. Simple steps like landscaping, painting the front door, and general maintenance can go a...
by Kathy Gibson | Jul 1, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 01 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 about the same as last month’s market action index of 53. Inventory has increased to 95. 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 | Apr 22, 2024 | Buying, Home and Garden, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Apr 22 2024 This week the median list price for a single family home in Pasadena, CA is $1,900,000 with the market action index hovering around 54. This is an increase over last month’s market action index of 52. Inventory has increased to 77. 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. ...