by Kathy Gibson | Jan 22, 2024 | Buying, Market, Neighborhood, Selling, Uncategorized
Despite a slight rise in inflation at the end of last year, the news headlines for 2024 have mostly been positive. Consumers are starting to believe that overall price growth is slowing, and there is stabilization in rates. Additionally, more homebuyers who were previously on the sidelines are returning to the market. These are encouraging signs that could jumpstart the housing market in the new year and potentially lead to a turnaround. If this positive sentiment persists and the upward momentum continues, we may witness a resurgence in market activity in the near future. Pasadena, CA Mon Jan 22 2024 This week the median list price for a single family home in Pasadena, CA is $1,595,000 with the market action index (MAI) hovering around 52. This is about the same as last month’s market action index of 52. Inventory has held steady at or around 70. 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...
by Kathy Gibson | Oct 9, 2023 | Market, Neighborhood
Pasadena, CA Mon Oct 09 2023 This week the median list price for a single family home in Pasadena, CA is $1,600,000 with the market action index (MAI) hovering around 53. This is less than last month’s market action index of 54. Inventory has increased to 93. The market has started cooling and prices have been flat for several weeks. Since 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...
by Kathy Gibson | May 8, 2023 | Buying, Market, Neighborhood, Open House, Selling, Uncategorized
Pasadena, CA Mon May 08 2023 This week the median list price for Pasadena, CA is $1,649,000 with the market action index hovering around 51. This is an increase over last month’s market action index of 49. Inventory has decreased to 77. The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend. Altadena, CA Mon May 08 2023 This week the median list price for Altadena, CA is $1,199,000 with the market action index hovering around 58. This is an increase over last month’s market action index of 55. Inventory has increased to 29. 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...
by Kathy Gibson | Oct 18, 2022 | Buying, Market, Neighborhood, Open House, Selling
Pasadena, CA Tue Oct 18 2022 This week the median list price for Pasadena, CA is $1,649,000 with the market action index hovering around 50. This is about the same as last month’s market action index of 50. Inventory has decreased to 107. 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. If the market heats up, prices are likely to resume an upward climb. Arcadia, CA Tue Oct 18 2022 This week the median list price for Arcadia, CA is $2,345,000 with the market action index hovering around 34. This is about the same as last month’s market action index of 34. Inventory has decreased to 108. 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. ...