Lets take a look at La Canada home stats for February 2019
La Canada home stats for February 2019 Recap:
Last month, there were fifteen La Canada home sales, up from January’s five closings.
The least expensive sale closed at $800,000. It was a three-bedroom, two-bath home with 1,632 square feet, located at 5105 Angeles Crest Highway. The most expensive La Canada sale was your listing on Lyans Drive. This stunning five-bedroom, six-bath property with 5,041 square feet sold for $2,850,000.
Two La Canada sellers reduced their asking prices before selling. These price adjustments helped attract buyers and finalize the deals. Despite some reductions, the market showed strong demand. Seven homes sold above their original list prices, reflecting multiple offers and overbidding. One home sold at the asking price.
The absorption rate dropped significantly, marking one of the lowest levels seen this year. This decline reflects a slowdown in new listings hitting the market. Many La Canada sellers likely held off listing their properties during the heavy rains. Bad weather often discourages open houses and delays preparations for market readiness. Sellers waited for clearer skies and better conditions before showcasing their homes.
This hesitation created a bottleneck in available inventory. With fewer homes for sale, competition among buyers intensified. Pent-up demand grew as buyers searched for limited options. Well-priced homes received multiple offers and moved quickly. In some cases, properties sold within days of hitting the market.
