by Kathy Gibson | Mar 27, 2023 | Buying, Market, Neighborhood, Selling
California’s housing market and employment continued to make progress in February. However, recent banking turmoil has caused some uncertainty in the market. The ongoing pressures in the financial system could lead to smaller banks tightening their lending standards, which could negatively impact housing demand. Despite this, the Fed has enacted its ninth rate hike since March 2022, but hinted that there may only be one more to come before the end of the year. This has resulted in mortgage rates falling for the second consecutive week, reaching their lowest level in a month. As a result, many buyers have been motivated to enter the market, with mortgage applications increasing for the third week in a row. In my opinion, this is a great time for potential buyers to take advantage of the lower rates and make their move into the housing market. Pasadena, CA Mon Mar 27 2023 This week the median list price for Pasadena, CA is $1,629,500 with the market action index hovering around 47. This is about the same as last month’s market action index of 47. Inventory has decreased to 86. 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 and prices have recently resumed upward pressure. La Crescenta, CA 91214 Mon Mar 27 2023 This week the median list price for La Crescenta, CA 91214 is $1,396,500 with the market action index hovering around 58. This is an increase over last month’s market action index of 57. Inventory has decreased to...
by Kathy Gibson | Feb 6, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Feb 06 2023 This week the median list price for Pasadena, CA is $1,394,750 with the market action index (MAI) hovering around 44. This is an increase over last month’s market action index of 43. Inventory has increased to 88. 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 again. Altadena, CA 91001 Mon Feb 06 2023 This week the median list price for Altadena, CA 91001 is $1,307,500 with the market action index (MAI) hovering around 51. This is less than last month’s market action index of 54. Inventory has increased to 24. The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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...
by Kathy Gibson | Oct 18, 2022 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Tue Oct 18 2022 This week the median list price for Pasadena, CA is $1,649,000 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 107. 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. Arcadia, CA Tue Oct 18 2022 This week the median list price for Arcadia, CA is $2,345,000 with the market action index hovering around 34. This is about the same as last month’s market action index of 34. Inventory has decreased to 108. In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the Market Action Index before price stability is achieved. ...