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Phyllis Harb's Real Estate Blog

Real Estate Questions & Answers

By Phyllis Harb | Agent in La Canada, CA

¼ of the La Canada real estate market consisted of short sales and foreclosures


Buying or selling, you need to become familiar with the local real estate market, and like it or not short sales and foreclosures have an impact.  The distressed real estate market is evident pretty much everywhere in Southern California, even in more affluent communities such as La Canada.

The good news for September was that in looking just at standard sales, the ratio of selling price to list price was the highest for the year.  Days on market just slightly increased, but remember we lost a business day with Labor Day, so it evens out.

The number of homes sold is down, but is typical for this time of year.  The absorption rate is increasing which is leading to more of a buyer’s market for La Canada.

And just one more factlet, there are 105 Realtors with a La Canada mailing address, and just 16 home sales last month.

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