Pasadena, CA
Mon Oct 31 2022
This week the median list price for Pasadena, CA is $1,679,500 with the market action index hovering around 50. This is about the same as last month’s market action index of 50. Inventory has increased to 124.
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.
Palm Springs, CA
Mon Oct 31 2022
This week the median list price for Palm Springs, CA is $1,295,000 with the market action index hovering around 35. This is less than last month’s market action index of 36. Inventory has increased to 251.
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.