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Market Report for Altadena and Pasadena | February 7

Market Report for Altadena and Pasadena | February 7

by | Feb 7, 2022 | Market

Here is a Market Report for Altadena and Pasadena for the week of 02/07. Altadena This week the median list price for Altadena, CA 91001 is $1,169,500 with the market action index hovering around 76. This is an increase over last month’s market action index of 71. Inventory has increased to 22. 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. 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 38. This is less than last month’s market action index of 45. Inventory has held steady at or around 1. 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. Detailed Pasadena market...

Prop 19: Transferring Your Property Tax Basis

by | Feb 3, 2022 | Uncategorized

What is Prop 19? Proposition 19 changed the rules for tax assessment transfers. In California, eligible homeowners could transfer their tax assessments to a different home of the same or lesser market value, which allowed them to move without paying higher property taxes. What are the new rules?   Homeowners over the age of 55 may transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment. Previously the replacement home had to be less expensive and located within certain cooperating counties. The number of times that eligible homeowners may utilize this benefit is three times. Previously it was only one. Homes which are inherited and not used as principal residences will be reassessed at market value when transferred. Previously properties could be passed down to heirs without triggering a tax reassessment. Additional revenue or net savings resulting from the ballot measure to be directed to wildfire agencies and counties.   Are you considering making a move? Let’s have a strategy conversation!...

Pasadena Micro Market Q4 (2021) Report

by | Feb 2, 2022 | Market

Pasadena Quarterly Market Insights Report (Micro): Q4 2021 Home sales in greater Pasadena trended down with a 2 percent decline while the average sales price increased by 8 percent to $1.2 million. South Pasadena single-family home sales activity rebounded form last year’s fourth quarter, increasing 28 percent while condo prices there increased 36 percent. Desirable San Marino saw a 40 percent increase in year-over-year single family homes sales activity. The average sales price for that single-family in San Marino rose to $2.7 million.   Number of Sales Average Sold  Price Days on Market TYPE 2020 2021 %CHANGE 2020 2021 %CHANGE 2020 2021 %CHANGE Alhambra SFR  CONDO 57 52 55 41 -3.5% -21.15% $818k $595k $927k $649k 13.4% 9% 26 42 33 35 26.9% -16.7% Altadena SFR  CONDO 92 0 92 0 0% N/A $1.18m 0 $1.26m 0 7.4% N/A 30 0 21 0 -30% N/A Pasadena SFR  CONDO 264 177 227 166 -14% -6% $1.56m $717k $1.7m $869k 10.5% 21.2% 35 40 31 31 -11.4% -22.5% San Gabriel SFR  CONDO 60 20 72 31 20% 55% $980k $618k $1.13m $831k 15.6% 34.4% 20 30 24 30 20% 0% San Marino SFR  CONDO 30 0 42 0 40% N/A $2.66m 0 $2.75m 0 3.4% N/A 60 0 50 0 -16.7% N/A South Pasadena SFR  CONDO 29 14 37 19 28% 36% $1.84m $887k $1.74m $959k -5.6% 8.2% 24 19 27 18 12.5% -5.3% *Numbers are rounded *Extracted from Compass California Blog. Click here for the original...