Here is a Market Report for Altadena and Pasadena for the week of 11/15.
Altadena
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This week the median list price for Altadena, CA 91001 is $995,000 with the market action index hovering around 73. This is less than last month’s market action index of 75. Inventory has increased to 33.
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The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, 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.
- Click here for a detailed report.
Pasadena
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This week the median list price for Pasadena, CA is $1,697,000 with the market action index hovering around 59. This is less than last month’s market action index of 62. Inventory has decreased to 102.
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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.
- Click here for a detailed report.