Buyers might want to sit down for this: Homes flew off the market like the hottest of hotcakes in the first quarter of the year—causing prices to rise even higher than predicted in many parts of the nation. The median price of existing single-family homes hit $232,100 in the first quarter of the year, according to a recent quarterly report from the National Association of Realtors®. That’s up 6.9% from a year ago—and is nearly double the 3.9% price growth realtor.com® had forecast for 2017. Read the rest here:
Each month, I look forward to crunching the numbers and keeping on top of La Canada real estate values. Only one La Canada home sold for under $1,000,000 last month. 1716 Foothill Blvd. a two bedroom one bath home located behind the YMCA sold for $990,000. There were just six home sales between $1m and $1.5m. First time home buyers continue to be priced out of our Foothill community.
Two homes sold over $4,000,000 including the former Kevin Costner estate. The “average” home that sold last month was 3,131 square feet and this average home will cost you $2.1 million.
It’s a great time to be selling your La Canada home. Call Phyllis @ 818 790-7325 to learn more about timing your home sale.