by Kathy Gibson | Sep 26, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Tue Sep 26 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 55. This is about the same as last month’s market action index of 55. Inventory has held steady at or around 91. Market action index (MAI) compares rate of sales vs. inventory. The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several 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 persistently, prices are likely to resume an upward climb. South Pasadena, CA 91030 Tue Sep 26 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,789,000 with the market action index hovering around 52. This is about the same as last month’s market action index of 52. Inventory has increased to 12. 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....
by Kathy Gibson | Sep 18, 2023 | Buying, Market, Neighborhood, Selling
Buyers and sellers’ sentiments remained virtually unchanged in August as housing market participants wait for more signals on what the Fed’s next move will be in the upcoming FOMC meeting. With the economy looking stronger than what was anticipated six months ago, interest rates will remain elevated for a little longer. Consumers could be tapped out, however, as costs of borrowing continue to rise, and their financial conditions begin to tighten up. As such, the economy will likely show more signs of slowing later this year and the Central Bank will have no choice but to cut rates starting in the first quarter of 2024. Mortgage rates will decline starting in the fourth quarter of this year and will further improve next year. The decline will likely be gradual though. Pasadena, CA Mon Sep 18 2023 This week the median list price for a single family home in Pasadena, CA is $1,462,000 with the market action index hovering around 54. This is about the same as last month’s market action index of 54. Inventory has increased to 90. Market Action Index This answers “How’s the Market?” by comparing rate of sales versus inventory. The market has started cooling and prices have been flat for several weeks. Since we’re in the Seller’s zone, watch for changes in market action index (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....
by Kathy Gibson | Aug 21, 2023 | Buying, Market, Neighborhood, Selling
Pasadena, CA Mon Aug 21 2023 This week the median list price for a single family home in Pasadena, CA is $1,499,950 with the market action index hovering around 56. This is an increase over last month’s market action index of 53. Inventory has increased to 84. 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 91001 Mon Aug 21 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 58. This is less than last month’s market action index of 59. Inventory has decreased to 29. The market has not shown strong directional trends in terms of supply and demand. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as evidence....
by Kathy Gibson | Aug 7, 2023 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Mon Aug 07 2023 This week the median list price for a single family home in Pasadena, CA is $1,596,500 with the market action index hovering around 53. This is an increase over last month’s market action index of 52. Inventory has increased to 88. 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. South Pasadena, CA 91030 Mon Aug 07 2023 This week the median list price for a single family home in South Pasadena, CA 91030 is $1,895,000 with the market action index hovering around 46. This is about the same as last month’s market action index of 46. Inventory has decreased to 14. 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...
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....