Realtor®

Monday Market Stats May 20

Monday Market Stats May 20

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....

Flipped Home: Sell or keep?

Looking to buy or sell a home in Pasadena? Connect with agent Kathy Gibson to find detailed listings and get expert real estate advice to help you make the right decision. Evaluating Whether to Rent or Sell Your Flipped Home: A Strategic Guide Photo by Freepik When you flip a home, the final step involves deciding whether to sell or rent it. This decision can significantly impact your financial outcomes and personal flexibility. Both options carry unique benefits and responsibilities, which you should carefully weigh against your long-term objectives and current financial situation. Analyze Potential for Future Profit Once you’ve renovated and are ready to move on from your flipped property, selling it outright might seem like the quickest way to profit. By selling now, you capture current market value, which can be substantial depending on your improvements and market trends. However, holding onto the property could potentially yield greater returns as market values increase. This longer-term perspective requires balancing the immediate payoff with potential future appreciation, a gamble that could either secure or lose additional profit depending on how real estate markets evolve. Weigh Personal Use and Family Considerations Renting out your flipped home could be more than a financial decision — it might also reflect personal or family planning. This option allows you to retain ownership of the property, providing a future personal residence or a valuable asset to pass on to your children. The flexibility of reclaiming the property if your circumstances change is a significant advantage, offering both a safety net and an investment opportunity. The Role of a Landlord Deciding to rent out your...

Monday Market Stats May 6

Pasadena, CA Mon May 06 2024 This week the median list price for a single family home in Pasadena, CA is $2,188,000 with the market action index hovering around 57. This is an increase over last month’s market action index of 53. Inventory has increased to 73. 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...

Monday Market Stats April 15

We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. Pasadena, CA Mon Apr 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,724,000 with the market action index hovering around 53. This is an increase over last month’s market action index (MAI) of 52. Inventory has decreased to 66. 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 climb....

Monday Market Stats April 8

Pasadena, CA Mon Apr 08 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 less than last month’s market action index of 54. Inventory has held steady at or around 59. 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...