Let’s examine the La Canada Housing Market for June 2022. Just nineteen homes sold, down from twenty-eight the previous month. The average sales price, average price per square foot, and median sales price have all increased.
The absorption rate has increased slightly, so it’s getting to be a bit better for La Canada home buyers. Last month, the least expensive home sold was a three-bedroom, two-bathroom, 1,564-square-foot home located at 4750 Hayman Ave. It sold for $1,657,000. The original list price was $1,699,000. Last month, the most expensive home sold was a five-bedroom, five-bathroom, 4,599 square foot home located at 4425 Shepherds Lane selling for $4,500,000 while initially listed for $4,095,000.
But keep in mind that when examining the La Canada housing market in June 2022, we are looking at sales that began thirty to sixty days ago.
Days on the market average just eighteen. This shows that homes are selling fast. In many cases, they go under contract within days. As a result, buyers are competing more aggressively. Most homes are selling for more than the asking price. This trend points to strong demand and limited inventory. Therefore, sellers have the upper hand in today’s market. La Canada home buyers need to be prepared to act quickly and decisively.
