Topanga is a unique market – a huge price range with just a few homes in each price bracket. Here are the current on market and sale numbers for 90290*:
There are 44 Total Topanga Homes for Sale
- 33 in Active Status
- 8 in Active Under Contract Status
- 2 in Pending Status
- 1 in Hold Status
There were 69 Topanga homes Sold since January 1st
- Lowest sale price $450,000
- Highest sale price $3,375,000
- Average Selling Price to Average Listing price 97.91%
Average Days on Market for YTD 2016
- Active homes – 82
- Active Under Contract – 148
- Pending – 54
- Sold – 86
This puts the numbers ahead of sales for the same period of 2015 in which 55 Topanga homes were sold.
The Topanga Home Market inventory is very low. 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. Our starter homes are in the $700,000s, now, and scarce. It is very slim inventory for the $700,000 to $1.2 million range right now.
Appraisals should be well supported on an accurately priced home. Buyers have heard the news reports stating that mortgage rates will be rising before the end of the year, which may have more buyers coming out to beat the increases. Buyers should come to the market with a thorough pre-approval in their hands to know their best price range and to make an attractive, solid offer. Use a lender that KNOWS Topanga.
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. Our inventory is low, and a well-prepared, well-marketed home will attract some great offers right now.
*Statistics do not include the Top o’ Topanga Manufactured/Mobile Home Park Sales Market