2015 La Canada Real Estate Values May 2015: If you are a La Canada home buyer, you are painfully aware of the increase in real estate values in La Canada. Although May’s median value is down from its March high, it is $236,500 higher than in January. The average La Canada home is selling at over the asking price.
The price run-up is prompting some housing analysts to question whether another housing bubble could be brewing. However, economists quickly note that this isn’t 2006, and there’s no reason to be concerned about a repeat, at least for now.
Recap:
The average price per square foot is the highest year to date, and the number of days on the market is the lowest year to date. Well-priced homes continue to sell over the asking price. The absorption rate indicates just over two months of listing inventory, assuming no more homes are listed in La Canada. Furthermore, buyer demand remains strong due to limited supply and desirable school districts.
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