by Kathy Gibson | Jul 30, 2024 | Buying, Market, Neighborhood, Selling
Interest rate cuts coming? Futures Traders are certain that the Federal Reserve will announce its first rate cut by mid-September, with a 100% probability that rates will be reduced by at least 0.25%. Pasadena, CA Tue Jul 30 2024 This week the median list price for a single family home in Pasadena, CA is $1,797,500 with the market action index hovering around 52. This is less than last month’s market action index of 54. Inventory has decreased to 90. 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....
by Kathy Gibson | Jul 15, 2024 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 15 2024 This week the median list price for a single family home in Pasadena, CA is $1,877,500 with the market action index (MAI) hovering around 53. This is about the same as last month’s market action index of 53. Inventory has decreased to 84. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few 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, prices are likely to resume an upward climb....
by Kathy Gibson | Jul 1, 2024 | Buying, Home and Garden, Market, Neighborhood, Selling
Pasadena, CA Mon Jul 01 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 about the same as last month’s market action index of 53. Inventory has increased to 95. 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....