Last month, (November 2015) there were just 19 La Canada home sales. In looking at our chart, you can see that the La Canada real estate market is fueled by the La Canada school calendar.
The bulk of this community’s closings occur in June, July and August. Factor in that the average home sells in 50 days – and the average selling price is about $1.9 m. This reflects that the La Canada move up market is hot and heavy during the spring and summer.
While more than 85% of markets have burdensome rents today, it’s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren’t those unhappy renters choosing to buy? The unfortunate reality is that with obstacles such as credit-score and down-payment requirements, it’s still too difficult for many aspiring buyers to fulfill that dream.