La Canada home statistics October 2018

Time to crunch those numbers: La Canada home statistics October 2018

Last month there were twenty-one La Canada home sales. This marks a significant jump from the eight closings in the previous month. So, why the big difference? Likely, it’s due to families wrapping up vacations and settling back into the school routine.

Out of the homes sold, 19% experienced price reductions before finding a buyer. This trend suggests that some sellers adjusted their expectations to meet market demand. Meanwhile, the median home price saw a substantial drop. For buyers, this shift opens the door to incredible opportunities. Larger homes are now more accessible, making it an ideal time to purchase in La Cañada.

The least expensive sale last month was $1,065,000. This property, located on Wyncrest Way, offered a solid entry point into the market. It featured four bedrooms, two bathrooms, and 1,452 square feet. On the other end, the most expensive home sold for a staggering $4,800,000. This luxurious estate included six bedrooms, nine baths, and spanned an impressive 7,905 square feet. It was beautifully situated on Meadow Grove St., showcasing the grandeur of La Cañada living.

When it comes to sale prices, the market showed variety. Thirteen homes sold for less than the asking price, reflecting strategic negotiations. However, eight homes defied expectations and sold over the asking price, highlighting strong demand for certain properties. Overall, the surge in sales and the shift in pricing reveal a dynamic market. It’s a great time for buyers looking to secure more space and value in La Cañada. Would you like me to expand on the neighborhood dynamics and buyer trends as well?

Check out my Luxury La Canada listing: 1929 Lyans Drive La Canada!