Market Report for Altadena and Pasadena | August 23

by Kathy Gibson | Aug 18, 2021 | Market

Here is a Market Report for Altadena and Pasadena for the week of 8/23. Altadena This week the median list price for Altadena, CA 91001 is $1,100,000 with the market action index hovering around 82. This is an increase over last month’s market action index of 74. Inventory has decreased to 25. Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues. Click here to view a detailed report. Pasadena This week the median list price for Pasadena, CA 91101 is $1,590,000 with the market action index hovering around 18. This is about the same as last month’s market action index of 18. Inventory has held steady at or around 1. Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer’s market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse. Click here to view a detailed...

Market Report for Altadena and Pasadena | August 11

by Kathy Gibson | Aug 4, 2021 | Market

Here is a Market Report for Altadena and Pasadena for the week of 8/11. Altadena This week the median list price for Altadena, CA 91001 is $1,048,000 with the market action index hovering around 77. This is less than last month’s market action index of 78. Inventory has increased to 33. The market remains in a relative stasis in terms of sales to inventory and prices have been relatively stable for a few weeks. 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 to view a detailed report. Pasadena This week the median list price for Pasadena, CA 91101 is $1,590,000 with the market action index hovering around 18. This is about the same as last month’s market action index of 18. Inventory has held steady at or around 1. The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes. Click here to view a detailed...

Market Report for Altadena and Pasadena | July 28

by Kathy Gibson | Jul 28, 2021 | Market

Here is a Market Report for Altadena and Pasadena for the week of 7/28. Altadena This week the median list price for Altadena, CA 91001 is $1,099,000 with the market action index hovering around 75. This is less than last month’s market action index of 77. Inventory has decreased to 29. 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. Click here to view a detailed report. Pasadena This week the median list price for Pasadena, CA 91106 is $2,348,800 with the market action index hovering around 47. This is less than last month’s market action index of 49. Inventory has increased to 23. Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller’s zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there. Click here to view a detailed...