Here is a Market Report for Altadena and Pasadena for the week of 7/28.
Altadena
- This week the median list price for Altadena, CA 91001 is $1,099,000 with the market action index hovering around 75. This is less than last month’s market action index of 77. Inventory has decreased to 29.
- The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
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Pasadena
- This week the median list price for Pasadena, CA 91106 is $2,348,800 with the market action index hovering around 47. This is less than last month’s market action index of 49. Inventory has increased to 23.
- Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there.
- Click here to view a detailed report.