We have some new listings this week:
Alta Canyada is a price reduction. It expired and came back on as new. We have 92 listings in La Canada, including condos and all of Sagebrush. The average time on market has been 3 months, with many at 4-6 months. In a nutshell, the bulk of the La Canada listings are held by sellers who don't have to sell but are holding out for their price. For the same reason, we have not been inundated with new listings this spring. We are fortunate to live in an area that is not only blessed with a great geographic location and excellent schools, but very few homeowners in La Canada will have to sell. Therefore, La Canada real estate inventory will stay low and keep our home values from free-falling.
We had no closings this week but 2 homes went into escrow:
Los Amigos sold within 2 weeks. Berkshire was on the market late last year for 2 months and was pulled doff prior to the holidays. It sold within a month of re-listing in '08.
In a past I blogged about the construction schedule on Foothill. As much as I am enjoying cruising up the Boulevard, I realize that my Source at the City of La Canada was decidedly off-schedule when he/she told me that the crosswalk/sidewalk improvement would begin as soon as the utility work was completed. I will check back with my source and get back to you...
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