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Homes are Selling in Topanga Canyon

Topanga home sales are moving along quite nicely in 2010. According to the CLAW/MLS area statistics, we are third in overall number of homes sold, year to date, over last year at this time.

Number of Topanga Homes Sold – October YTD 2010 vs. 2009*

YTD 2010                  66

YTD 2009                 46

Change                     +20                +43.48%

The Topanga housing market is not stagnant by any means. It is important to note that the homes that are moving are priced right. We have a number of homes that have been sitting on the market for months, great homes, that are just reaching for a higher price. Remember, home sellers, no matter how much you wish it weren’t so, the buyers are setting the prices in this market. Appraisers are looking at the most recent comparable properties during the loan approval process and the buyer’s sale price will have to pass the approval of the lender. Take a careful look at the comps with your Real estate agent before pricing your home.

BUT don’t forget – if you are also buying another home, you will be in a good place to purchase.  Selling a home and then buying another in the same market may put you in more home than you think.

*For the MLS®/CLAW Primary Areas from Downtown to the Ocean