by Kathy Gibson | Jun 24, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
It seems like inflation might be cooling off for the rest of the year, which could help stabilize mortgage rates. The Federal Reserve decided to keep rates steady for now, but they’re expected to cut them later this year, just not as much as we initially thought. As a result, home sales should improve in the second half of the year, though the growth will be slower than previously projected. Pasadena, CA Mon Jun 24 2024 This week the median list price for a single family home in Pasadena, CA is $1,890,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 55. Inventory has increased to 98. 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 | May 20, 2024 | Buying, Home and Garden, Market, Selling
Pasadena, CA Mon May 20 2024 This week the median list price for a single family home in Pasadena, CA is $1,875,000 with the market action index hovering around 56. This is an increase over last month’s market action index of 55. Inventory has increased to 81. 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....
by Kathy Gibson | Apr 29, 2024 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Apr 29 2024 This week the median list price for a single family home in Pasadena, CA is $1,980,000 with the market action index hovering around 55. This is an increase over last month’s market action index of 53. Inventory has increased to 79. 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....
by Kathy Gibson | Jan 22, 2024 | Buying, Market, Neighborhood, Selling, Uncategorized
Despite a slight rise in inflation at the end of last year, the news headlines for 2024 have mostly been positive. Consumers are starting to believe that overall price growth is slowing, and there is stabilization in rates. Additionally, more homebuyers who were previously on the sidelines are returning to the market. These are encouraging signs that could jumpstart the housing market in the new year and potentially lead to a turnaround. If this positive sentiment persists and the upward momentum continues, we may witness a resurgence in market activity in the near future. Pasadena, CA Mon Jan 22 2024 This week the median list price for a single family home in Pasadena, CA is $1,595,000 with the market action index (MAI) hovering around 52. This is about the same as last month’s market action index of 52. Inventory has held steady at or around 70. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few 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, prices are likely to resume an upward...
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....