La Canada Market at a Glance for August
The La Canada housing market has seen some interesting developments over the past 30 days up to August 2, 2023. Let’s take a closer look at the statistics for this period and compare them to the previous month’s data.
August 2, 2023 Stats:
- Homes on the market: 22
- Median list price: $5,090,000
- Average price per square foot: $910
- Homes sold: 21
- Median sale price: $2,100,000
- Average market time: 25 days
July 2, 2023 Stats:
- Homes on the market: 28
- Median list price: $3,847,000
- Average price per square foot: $924
- Homes sold: 10
- Median sale price: $2,687,500
- Average market time: 24 days
Comparing the two sets of statistics, we can see some significant changes in the La Canada housing market. Firstly, the number of homes on the market has decreased from 28 in July to 22 in August. This reduction in available homes may indicate a higher demand or less inventory in the area.
The median list price has increased notably from $3,847,000 in July to $5,090,000 in August. This substantial jump in the median list price suggests that the housing market in La Canada may be experiencing increased demand and seller confidence in the area.
However, the average price per square foot has slightly decreased from $924 in July to $910 in August. This could indicate a more varied range of home sizes and types being listed on the market during the current month.
In terms of sales activity, the number of homes sold increased from 10 in July to 21 in August, more than double the previous month’s figure. This surge in sales may indicate a busy buying season or an increase in buyer interest in La Canada properties.
Despite the increase in median list prices, the median sale price has decreased from $2,687,500 in July to $2,100,000 in August. This difference may be influenced by factors such as market fluctuations and the types of properties sold.
The average market time has slightly increased from 24 days in July to 25 days in August. This small change may suggest that the La Canada housing market is still relatively competitive, with properties selling relatively briskly.
In conclusion, August’s La Canada housing market appears to be experiencing some interesting shifts. While the median list price has significantly increased, and the number of homes sold has doubled compared to the previous month, the average sale price has slightly decreased. These dynamics indicate a market that is likely in flux, and prospective buyers and sellers should carefully consider these trends before making any decisions.