Local Market Report
South Pasadena, CA
Single-Family Homes
South Pasadena, CA
Fri Apr 19 2024
This week the median list price for South Pasadena, CA is $2,200,000 with the market action index hovering around 41. This is less than last month's market action index of 44. Inventory has increased to 17.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling off consistently for several weeks, as more homes are available and demand is less. We have begun to seen prices move lower as a result. If the MAI falls into the Buyer’s zone, it is likely that prices continue their downward trend until we see some turnaround in Market Action.
Real-Time Market Profile
| Median List Price | $2,200,000 | |
| Median Price of New Listings | $1,995,000 | |
| Per Square Foot | $1,001 | |
| Average Days on Market | 75 | |
| Median Days on Market | 28 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 0% | |
| Inventory | 17 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $5,631,500 | 5,932 | 0.25 - 0.5 acre | 5 | 6 | 30 | 1 | 0 | 108 |
| $2,624,000 | 2,496 | 8,000 - 10,000 sqft | 4 | 3.5 | 74 | 1 | 0 | 63 |
| $1,997,450 | 1,842 | 6,500 - 8,000 sqft | 3 | 2.5 | 99 | 1 | 0 | 7 |
| $1,250,000 | 1,796 | 4,500 - 6,500 sqft | 3 | 2 | 85 | 2 | 1 | 7 |