La Canada March 2015 Real Estate Values: It’s a mixed picture. The absorption rate suggests a more balanced market. If no new listings came on, current inventory would sell out in about six months. That leans slightly in favor of buyers. However, demand is still strong. Homes are selling quickly. Many receive multiple offers. Most are closing over the asking price. This shows buyers are still willing to compete for the right home. So while the pace has cooled, it’s far from a buyer’s market. It’s more balanced, but still competitive.
La Canada Real Estate Values for March 2015 Recap:
The average price per square foot has steadily increased each month in 2015. In addition, last month, the average La Canada home sold and closed escrow in only 38 days! But with the spring selling season comes more La Cañada listings. That’s expected this time of year. As a result, the absorption rate jumped over two points from last month. This means homes are taking a bit longer to sell. More inventory is hitting the market, which is great news for La Cañada home buyers. They now have more choices and slightly more negotiating power.
Still, competition remains. Well-priced homes in desirable areas continue to attract strong interest. In short, we’re seeing a seasonal shift toward balance—but not a slowdown.
