Pasadena, CA
Mon Nov 07 2022
This week the median list price for Pasadena, CA is $1,650,000 with the market action index (MAI) hovering around 48. This is less than last month’s market action index of 50. Inventory has increased to 121.
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in market action index, 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.
La Crescenta, CA
Mon Nov 07 2022
This week the median list price for La Crescenta, CA is $1,186,500 with the market action index hovering around 48. This is less than last month’s market action index of 56. Inventory has held steady at or around 34.
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.