Each month Harb & Co. loves to crunch the MLS numbers: La Canada home sales, November 2019:
The number of homes on the market (listing inventory) has dropped as it often does this time of year. The absorption rate was 2.06% which reflects an extremely strong sellers market. La Canada home sales were a little down from last month which is to be expected due to the holidays.
The least expensive sale was $1,085,000 for a three-bedroom, one bath, 1,488 square foot home at 4933 Crown Ave. The most expensive La Canada home sold was for $3,500,000 for a five-bedroom, six bath, 5,735 square foot home at 5160 Solliden Lane,. This home sold the first day it hit the market for $211,000 over the asking price. Eight of the twenty-two homes sold last month in La Canada had price reductions (list price) prior to selling. Five homes sold over their original list price, two sold for the asking price.
-Frank Nothaft, Chief Economist for CoreLogic
