Single Family Home Market At A Glance

Below are March single-family home sale statistics. The areas covered include La Canada, La Crescenta, Sunland-Tujunga, Altadena, Pasadena, Glendale and Shadow Hills. The month of March has brought some interesting changes in the housing sales activity across 9 different areas in the Foothills region. Despite the spring season typically is a time of increased home-buying activity, inventory remains low in most cases. As a result, sales have been half of what they were last year at this time.

However, prices in most cases have gone up, indicating a strong seller’s market. This trend may be driven by the increasing number of people moving to the region, attracted by its natural beauty and relatively affordable prices compared to more urban areas of California.

In addition, the “New Californians Dream For All” program is expected to increase buyer demand in the near future. This initiative aims to make it easier for first-time buyers or those who have not owned a home in 3 years to become homeowners. This program is a downpayment assistant program providing up to 20% for the downpayment. First Time Buyer Program

With the combination of low inventory and increasing demand, now may be a good time for sellers to get their homes on the market. However, buyers should also be prepared to act quickly and potentially pay higher prices than they might have in the past.

Overall, the Foothills region is experiencing an interesting mix of market conditions, with low inventory and rising prices. The upcoming “New Californians Dream For All” program is expected to further drive demand and increase prices. It remains to be seen how these trends will develop over time, but it’s an excellent time for sellers to consider listing their homes.

Below are your March Home Sale Statistics