Last month, there were just seven La Canada home sales. The least expensive sale was $805,000 for a one bedroom, one bath on Crown. The highest sale was $2,779,000 for a 5,300+ sq ft home on Via Serrano. The high-end sale sold for the asking price. One home sold less than the list price. Five others sold over the asking price. A home on Lynnhaven sold for $260,000 over the asking price.
Is the Market Suddenly Softening?
The housing market may not be as robust this spring as some originally predicted, and real estate professionals are pointing to the main culprits as rising mortgage rates, a new tax law, and growing affordability problems among first-time buyers.
The spring market will be the true judge of whether the housing market has hit a slowdown. About 40 percent of the year’s sales tend to occur from March through June, according to the National Association of REALTORS®.
Call Phyllis to learn more about La Canada home values.
