Another La Canada housing year has ended! Let’s take a look at the La Canada housing market December 2019:
La Canada home sales increased in December. Most people want to be in their new home for the holidays. The two least expensive sales were each at $950,000. One was a three-bedroom, two-bath, 1,508 square foot home at 4433 Rockland Place, and the other was a three-bedroom, two-bath, 1,302 square foot home at 4806 Commonwealth Avenue. The most expensive La Canada home sold was for $3,015,000 for a five bedroom, six bath, 4,721 square foot home at 4817 Hillard Avenue.
Seven of the twenty-two homes sold last month in La Canada had price reductions (list price) prior to selling. Nine of these homes sold over their list price, two sold for the asking price.
The absorption rate was 1.18% which reflects a sellers’ market. New La Canada listings are slowly trickling in and should continue to do so until after Super Bowl. Interesting to note that the median selling price started the year at $1,300,000 and ended at $1,775,000. This indicates that half of the current La Canada home sales are over $1,775,000 and half under. This is not a market for first time home buyers.
We just listed a beautifully remodeled townhome by the La Canada Country Club at 779 Starlight Heights Drive.
