This Week's Listings and Sales

Closings in La Canada picked up a bit this week, which means that even with tighter standards, banks are lending!

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4 houses sold this week:

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Castle Knoll sold in less than a week, indicating that there are Buyers out there just waiting for the right house to come along.

We had 10 new listings come on the market, bringing our inventory up to 85. Actually, 9 new listings and one that was relisted after expiring: 4358 Beulah, my personal favorite. I understand they are getting a lot of activity since the recent price reduction.

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Back to our inventory. With 85 active listings, if they sell at the current pace, it will take 8 1/2 months to unload all of the properties on the market in La Canada. In 2006, it would have taken 1 month. On a positive note, I think sales will pick up for the next few months and fewer people than expected are listing their homes. Those two factors will bode well for our local market, and since preception seems to be everything these days, things are really looking up!