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 | May 15, 2023 | Buying, Market, Neighborhood, Open House, Selling
Recently the Fed enacted its 10th rate hike in its battle against inflation. They hinted that it may be the last but reiterated that much depends on incoming data as uncertainty on the health of the banking system and the overall economy amounts. Despite recent challenges, the labor market remains solid and added more jobs than expected. However, fewer job openings suggest that the 2-year labor shortage is beginning to normalize. Total construction spending increased, though single-family outlays continued to weigh on residential spending, which dipped for the tenth month in a row. Fortunately, California’s population decline slowed last year as births stabilized, deaths decreased, and foreign immigration rebounded. Pasadena, CA Mon May 15 2023 This week the median list price for a single family home in Pasadena, CA is $1,612,500 with the market action index hovering around 50. This is about the same as last month’s market action index of 50. Inventory has held steady at or around 82. 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. South Pasadena, CA Mon May 15 2023 This week the median list price for a single family home in South Pasadena, CA is $1,974,500 with the market action index hovering around 60. This is less than last month’s market action index of 62. Inventory has increased to 12. 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...
by Kathy Gibson | May 8, 2023 | Buying, Market, Neighborhood, Open House, Selling, Uncategorized
Pasadena, CA Mon May 08 2023 This week the median list price for Pasadena, CA is $1,649,000 with the market action index hovering around 51. This is an increase over last month’s market action index of 49. Inventory has decreased 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. Altadena, CA Mon May 08 2023 This week the median list price for Altadena, CA is $1,199,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has increased to 29. 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...
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 | Feb 23, 2022 | Market
Here is a Market Report for Altadena and Pasadena for the week of 02/23. Altadena This week the median list price for Altadena, CA 91001 is $1,144,500 with the market action index hovering around 76. This is about the same as last month’s market action index of 76. Inventory has increased to 30. While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist. Detailed Altadena market report. Pasadena This week the median list price for Pasadena, CA 91101 is $1,100,000 with the market action index hovering around 37. This is less than last month’s market action index of 40. Inventory has held steady at or around 1 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. Detailed Pasadena market...