La Canada real estate values are up 22% from 2012. Cash buyers play a significant role in La Canada real estate sales. Cash transactions comprised 17% of last month’s home sales.
Let’s see how La Canada real estate values compare to last year’s:
In October 2012, eighteen La Canada homes sold. The average price per foot was $443.84, the average days on the market was 80, and the average selling price was $1,112,167. Last year, the average La Canada home sold for 100% of its list price. While La Canada foreclosures and short sales were nonexistent the previous month, a year ago, these distressed sales comprised 17% of all La Canada home sales. This could indicate the La Canada real estate market has turned around. Hopefully this isn’t wishful thinking, we will see.
Last year, the absorption rate (the number of months it would take to exhaust the housing inventory, assuming no new listings came on the market) was 2.7%, compared to this year’s 3.05%. This year’s figure means that inventory would be depleted in over three months, assuming no new listings come on the market.
La Canada Real Estate Values Up 22% From 2012 – great news for La Canada homeowners.
