La Canada home sales September 2019:
Last month there were only nine La Canada home sales.
The least expensive sale was $1,385,000 for a four-bedroom, three-bath, 2,325-square-foot home at 951 Vista Del Valle Rd. This home was originally listed for $1,649,000. And sold for $264,000 under the asking price. The most expensive La Canada home sold was for $4,100,000 for a five-bedroom, five-bath, 6,081 square foot home at 565 Paulette Place, $378,000 less than the asking price. Three of the nine homes sold last month in La Canada, sellers reduced their asking price (list price) before selling. Two homes sold over their original list price. One sold at the original asking price. Six homes sold for less than the asking price.
The absorption rate more than tripled from last month. La Canada home sales are school driven, and the mad rush to get into La Canada schools has ended.
Nationwide, the inventory of homes for sale in the U.S. continued to decline in September. This indicates the market may be heading toward an overall shortage, according to a Realtor.com report. During the month, the national inventory of homes for sale fell 2.5% from the previous year, and at a much faster rate of decline compared to August’s 1.8% decrease.September’s retreat can likely be attributed to heightened home buyer demand, which has increased substantially thanks to the nation’s low-interest-rate environment. Read the rest here: Be interesting to see what October’s absorption rate brings…..
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