by Kathy Gibson | Sep 26, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Tue Sep 26 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 55. This is about the same as last month’s market action index of 55. Inventory has held steady at or around 91. Market action index (MAI) compares rate of sales vs. inventory. The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several 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 persistently, prices are likely to resume an upward climb. South Pasadena, CA 91030 Tue Sep 26 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,789,000 with the market action index hovering around 52. This is about the same as last month’s market action index of 52. Inventory has increased to 12. 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 | Sep 11, 2023 | Buying, Market
What’s the latest in real estate news? As the job market continues to show signs of easing, it is looking more likely that the Fed may not raise rates in their upcoming September meeting. With mortgage rates remaining elevated despite their downward movement in the past couple of weeks, the Fed’s hike pause would be welcome news for the housing market. Mortgage applications just started rising after five weeks of retreat, and the housing market could build on its momentum if rates continue to move sideways or even decline in the next few weeks. Pasadena, CA Mon Sep 11 2023 This week the median list price for a single family home in Pasadena, CA is $1,488,000 with the market action index hovering around 55. This is less than last month’s market action index of 56. Inventory has increased to 83. 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. South Pasadena, CA 91030 Mon Sep 11 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,825,000 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 10. 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...
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 | Feb 27, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Feb 27 2023 This week the median list price for Pasadena, CA is $1,588,000 with the market action index hovering around 46. This is an increase over last month’s market action index of 44. Inventory has increased to 97. 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 91030 Mon Feb 27 2023 This week the median list price for South Pasadena, CA 91030 is $1,918,500 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 8. 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....