Let’s take a close look at La Canada Homes Sales for September 2018:
Last month, there were eight La Canada home sales. The least expensive sale was $889,000 for a two-bedroom, two-bath, 1,217-square-foot home on Ahlin Drive. The most expensive home sold for $4,900,000 for a five-bedroom, seven-bath, 6,688 sq ft home on Hill Street.
The La Canada real estate market is stabilizing. In the month of September there were two price reductions. The absorption rate jumped to 8.13%. This indicates that if there were no new listings it will take eight months to run out of La Canada listing inventory. One half of La Canada listings are selling for more than $2,512,500 and one half for less.
According to a recent survey conducted by Core Logic, sixty-six percent of homeowners who are considering buying in the next ten years will need to sell their current homes to finance their next one. Meanwhile, 35 percent of recent home buyers said they used funds from the sale of their previous home to finance the down payment of their current home.
