La Canada Real Estate Values December 2014: La Canada real estate values continue their upward trend. 2013 Year End Stats: 16 sales, 58 days on the market, average price per square foot $516.96. List price to selling 98.02%. Average Selling Price $1,475,406.
La Canada Real Estate Values December 2014 Recap:
Although the average La Canada home is taking longer to sell, this slowdown is expected. Many escrows opened during the holiday season, a time when market activity typically dips. Still, several signs point to a strong seller’s market. First, the low absorption rate stands out. If no new homes hit the market, all current inventory would be depleted in just over a month. This tight supply puts sellers in a strong position. Next, the average sale-to-list price tells an important story. Most homes are receiving multiple offers. Buyers are overbidding to win. As a result, many homes are selling for more than the asking price. It will be very interesting to see how the rest of the year plays out and I will be sure to keep you updated.
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