Topanga Canyon Real Estate Market for March and the First Quarter of 2014:
There were 42 Total Topanga Homes for Sale
- 32 in Active status*
- 7 in Looking for Backup (Contingency) Status
- 9 in Pending Status
- 2 in Hold Status
There were 10 Topanga homes Sold in March 2014
- Lowest sale price $489,500
- Highest sale price $2,600,000
- Average selling price to Average Listing price 96.6%
- Homes sold in 1st Quarter 2014 – 22
Average Days on Market for March 2014
- Active homes – 83
- Backup – 107
- Pending – 69
- Sold – 80
This puts the numbers slightly ahead of sales for First Quarter 2013 in which 20 Topanga homes were sold. We did have a slow start to listing inventory for Spring 2014 season, but the market is really jumping now. Three more homes closed in the first half of April.
Well priced, desirable homes are coming on the market and going into escrow quickly at or above list price. There are buyers who have been shopping in Topanga for a while who are desperate for new inventory. The market is looking good for sellers with some great comparable properties set to close within the next month or so. Appraisals should be well supported on an accurately priced home going into the summer. Buyers have heard the news reports stating that mortgage rates will be rising towards the end of the year.
If you would like to discuss the Topanga Home Market and get an accurate report on your home’s value, please call me right now. Topanga Canyon is beautiful in Spring – your house will look great!
Elaine Hanson 310-924-1032
*I should mention that I left out the home at the North end of the canyon which is priced at $15.99 million. It is a singular estate that skews the statistics.