by Kathy Gibson | Jul 31, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 31 2023 This week the median list price for a single family home in Pasadena, CA is $1,595,000 with the market action index hovering around 53. This is about the same as last month’s market action index of 53. Inventory has increased to 87. 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. Altadena, CA 91001 Mon Jul 31 2023 This week the median list price for a single family home in Altadena, CA 91001 is $1,399,000 with the market action index hovering around 59. This is an increase over last month’s market action index of 58. Inventory has decreased to 35. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices....
by Kathy Gibson | Jul 24, 2023 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 24 2023 This week the median list price for a single family home in Pasadena, CA is $1,699,999 with the market action index hovering around 54. This is about the same as last month’s market action index of 54. Inventory has decreased to 81. 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. Altadena, CA Mon Jul 24 2023 This week the median list price for a single family home in Altadena, CA is $1,349,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has decreased to 32. The market has achieved a relative stasis point in terms of supply and demand – conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result....
by Kathy Gibson | Jul 17, 2023 | Buying, Market, Neighborhood, Selling
Despite interest rates that remain near 7%, the economy continues to perform well. Last week’s inflation report generated some confidence that things are improving more quickly in the Fed’s effort to tame rising prices. Consumers remain relatively optimistic and even new MBS issuances rose for the first time in over a year. The Federal Open Market Committee is set to meet next week and are expected to raise their benchmark rate 25 basis points, so mortgage rates may remain elevated over the short term. Thus far, buyers seemed to have rebounded modestly from the initial shock of rising rates and the market has grown more competitive as demand continues to outstrip supply. Pasadena, CA Mon Jul 17 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 52. This is about the same as last month’s market action index of 52. Inventory has held steady at or around 89. 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. Altadena, CA Mon Jul 17 2023 This week the median list price for Altadena, CA is $1,399,000 with the market action index hovering around 59. This is an increase over last month’s market action index of 58. Inventory has decreased to 33. Home sales continue to outstrip supply and the Market Action Index...
by Kathy Gibson | Jul 10, 2023 | Buying, Market, Neighborhood, Selling
The U.S. economy survived the first half of 2023 without going into a recession, as consumers turned out to be more resilient than most economists expected. Despite going through high inflation rates, banking crisis, and debt ceiling issues in the first six months of the year, consumers remain upbeat, and their confidence recovered somewhat in recent weeks. The housing market, on the other hand, has continued to encounter headwinds since late 2022, as rates stayed elevated and housing supply remained tight. With an increase in home building activity at the national level, we could see some slight improvement in market conditions in the U.S., but tight inventory will likely remain the norm in California in the second half of the year until rates start coming down meaningfully. Pasadena, CA Mon Jul 10 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 53. This is an increase over last month’s market action index of 52. Inventory has decreased to 83. 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 Mon Jul 10 2023 This week the median list price for a single family home in South Pasadena, CA is $1,773,500 with the market action index hovering around 50. This is less than last month’s market action index of 55. Inventory has increased to 18. The market has been cooling off a bit in recent...