Market Stats for Monday August 15

Pasadena, CA

This week the median list price for Pasadena, CA is $1,437,000 with the market action index hovering around 53. This is less than last month’s market action index of 55. Inventory has held steady at or around 114.

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 again.

South Pasadena, CA 91030

This week the median list price for South Pasadena, CA 91030 is $1,744,000 with the market action index hovering around 54. This is less than last month’s market action index of 56. Inventory has increased to 22.

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the market action index before price stability is achieved.