La Canada July 2015 Home Sales: The spring home-buying season may be over, but La Canada home sales remain strong. In fact, they’re thriving. Right now, the absorption rate sits at just 2.17. That means only two months of housing inventory are available—clear evidence of a solid seller’s market. Homes in La Canada are selling fast. On average, they go under contract in just 47 days and close for nearly 2% over the asking price. With the exception of January, homes have consistently sold above list price all year. Why? It’s all about strategy. Sellers who price just slightly below market value often spark bidding wars. Multiple offers drive the final price higher.
The median price has dropped from the March, April peak selling season. These would be the move-up buyers, and currently, more first-time buyers.
La Canada July 2015 Home Sales Recap:
In today’s market, pricing is everything. You can negotiate up or down, but it all starts with where you set the price.
And for all you real estate voyeurs (my mom included), Vince Vaughn has listed his La Cañada home for sale. The house is fully staged, and Vince has already moved out.
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