In the ever-evolving world of real estate, staying informed about market trends is essential for both buyers and sellers. The Tujunga Market at a Glance provides a comprehensive overview of the housing market in Tujunga, California, as of October 11, allowing you to make well-informed decisions. Whether you’re a prospective buyer looking for your dream home or a seller aiming to maximize your property’s value, these statistics offer valuable insights to guide your choices. Let’s delve into the key statistics and their significance for buyers and sellers alike.
October 11 Stats past 30 days:
- Currently, there are 12 homes for sale in Tujunga.
- Analysis: The decreased inventory may lead to increased buyer competition, potentially affecting prices.
- The average list price for these homes is $1,244,294.
- Analysis: This higher average list price may indicate a strong demand for properties in Tujunga.
- There were 7 closed sales in this period.
- Analysis: The number of closed sales suggests ongoing activity in the real estate market.
- The median sale price for these closed sales was $905,000.
- Analysis: A relatively high median sale price reflects the value of homes in Tujunga.
- The average market time for these closed sales was 22 days.
- Analysis: A short market time indicates a fast-paced market, which can favor sellers.
September 11 Stats past 30 days:
- On September 12, there were 16 homes on the market.
- Analysis: The decrease in inventory from September to October may lead to less choice for buyers.
- The median list price for these homes was $989,000.
- Analysis: A slightly lower median list price in September could be attributed to market fluctuations.
- The average price per square foot was $802.
- Analysis: The high price per square foot highlights the desirability of Tujunga’s real estate.
- During this period, 12 homes changed hands.
- Analysis: A consistent number of closed sales suggests a stable market.
- The median sale price for these closed sales was $724,000.
- Analysis: The increase in median sale price from September to October reflects potential appreciation.
- The average market time for these closed sales was 21 days.
- Analysis: A short market time indicates buyer interest and quick transactions.
These market statistics are crucial for both buyers and sellers. Understanding the current inventory and pricing trends helps buyers make informed decisions on their investments. For sellers, these stats offer insights into market competitiveness, allowing them to price their properties effectively and gauge the potential for quick sales. The shorter market time indicates a seller’s market, where sellers may have an advantage, while the high median sale prices signify the desirability of Tujunga’s real estate. These insights enable all parties to navigate the Tujunga real estate market more effectively.
Some general market information:
Here’s some information about the housing market in the far North end of the San Gabriel Valley, including Sunland-Tujunga, La Crescenta, North Glendale, and Shadow Hills:
- Competitive Market: The housing market in these areas is competitive. For instance, Sunland-Tujunga has a competitive score of 70 out of 100, indicating high demand for homes in the area[1]. This competitiveness extends to neighboring regions.
- Price Trends: Prices tend to be relatively high in these neighborhoods. La Crescenta, for example, is considered a seller’s market with higher prices[3]. As of August 2023, the median listing home price in La Crescenta was $1.2 million, with a year-over-year increase of 6.4%[5]. This trend is likely consistent in nearby areas.
- Challenges for Buyers: Buyers may face challenges due to high prices and competition. Finding affordable homes in these areas might be challenging, and bidding wars are common. Additionally, securing financing can be competitive, so buyers should have their finances in order.
- Challenges for Sellers: While it’s a seller’s market, sellers must be strategic. Pricing their homes competitively is essential to attract buyers. Preparing homes for sale, staging, and marketing are crucial steps for sellers to maximize their returns.
- Additional Considerations: Beyond interest rates, factors like property condition, location, and market dynamics play a significant role in these areas. It’s essential for both buyers and sellers to work with experienced real estate agents who understand the local market.
In summary, the far North end of the San Gabriel Valley, including Sunland-Tujunga, La Crescenta, North Glendale, and Shadow Hills, experiences a competitive housing market with higher prices. Buyers should be prepared for stiff competition and consider factors beyond interest rates, while sellers must price and present their homes effectively.
Looking for more information, call Robbyn Battles to help you navigate the best strategy to buy or sell in this market.