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Topanga Canyon Real Estate Market Report Year-to-Date Sept 3, 2016

Topanga Real Estate Market Report | Discover Topanga

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.

Topanga & Malibu Charts here

*Statistics do not include the Top o’ Topanga Manufactured/Mobile Home Park Sales Market

Topanga, CA 90290 | March 2014 Home Sales and Real Estate Market Statistics

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.

Attention Topanga Home Sellers – Buyers Need Your Homes!

The 2013 Topanga Real Estate Market is starting out strong. Buyers are feeling confident that the market is in recovery and they are actively searching for their next home. The problem is, there are not a lot of homes from which to choose. This last year, homes that were coming on the market properly priced were receiving multiple offers. The activity began in the lower dollar markets and we are now seeing it roll up to the higher priced markets. Buyers with great credit are finding financing and BUYING!

The  Topanga 90290 2012 inventory level of homes for sale declined sharply throughout 2012. If you would like to sell your home, call me to discuss our Topanga Market conditions in detail and to get a thorough Market Analysis of your home’s value.  I’ll help you with each step – from advising you how to prepare your home to be show ready for buyers through to a successfully closed transaction. Let’s talk!

California Median Home Prices – How’s the Topanga Home Market?

California Home Prices very from region to region. Here is an interesting look at the median prices of homes for sale in the state. According to the California Association of Realtors, home affordability has risen to 56%. Welcome news after seeing periods of less than 30% of people able to buy a home at the height of the market frenzy. Our Topanga Home Market has been very busy, but the lack of inventory is a bit frustrating for buyers – and there are many buyers searching for homes right NOW. If you are wondering if now is a good time to sell, the answer is YES!!

Would you like a personalized Market Analysis for your home? I’d be happy to give you a report.
California Home Prices

Top 10 Tax Tips from the IRS for Topanga Home Sellers

The IRS has released their latest Top Ten Tax Tips for Home Sellers.  The IRS periodically publishes information useful to consumers on their website.  It’s a good place to find tips to discuss with  your tax professional.

Top Ten Tax Tips for Home Sellers

For information on property taxes in Los Angeles County, you can visit the Assessors Website.  A particularly hot topic now is Decline-in-Value Reassessments on properties that are worth less now than they were at the time of purchse.  Check it out – you may be eligible to apply for a reassessment on your Topanga home.  I’ve found the website to be quite informative and easy to navigate.

 

Topanga’s Inventory of Homes for Sale is Rising

The inventory of homes for sale in the Topanga market is rising as we move towards the Spring market.  More choice is great news for home buyers.

You can see what is currently on the market using the Discover Topanga Home Search.  It’s an easy way to search homes for sale in Topanga, Malibu, Woodland Hills and more. You can save searches or sign up for auto-notification of new listings. Check it out – I think you will like it.