Here is a Market Report for Altadena and Pasadena for the week of 02/23.
Altadena
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This week the median list price for Altadena, CA 91001 is $1,144,500 with the market action index hovering around 76. This is about the same as last month’s market action index of 76. Inventory has increased to 30.
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While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.
- Detailed Altadena market report.
Pasadena
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This week the median list price for Pasadena, CA 91101 is $1,100,000 with the market action index hovering around 37. This is less than last month’s market action index of 40. Inventory has held steady at or around 1
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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.
- Detailed Pasadena market report.