Local Niche Markets Holding Strong

While much of the country flounders in a buyer's market, flooded with inventory that maintains downward pressure on home prices, some areas have retained seller's market status. Compare La Canada's average sales prices with those of nearby Glendale (right). Although these areas are only a few miles apart, one can clearly see that Glendale has felt the effects of the housing market slowdown much more than has La Canada.

So what makes La Canada and La Crescenta, both strong local markets, so hardy in comparison with neighboring cities? We've all heard the saying that in Real Estate, it's all about "location, location, location," and these areas boast several key factors that make their location ideal. Easy freeway access along with proximity to employment hubs like Pasadena and Glendale attract residents who want to avoid long commutes, yet don't want to live in big cities; Excellent schools and low crime rates encourage population by those who need a good place to raise a family; and, as suggested by La Canada Realtor Carey Haynes in a recent Valley Sun article, there may also be an element of nostalgia involved in keeping the Crescenta-Canada valley market strong. La Crescenta and La Canada neighborhoods are well established and largely populated by families who raised children and retired there, and Haynes points out that some of these children are now trying to "get back to where they were raised."

To the West, Tujunga and Sunland have also maintained relatively stable home prices, although they are on a decline. To the East, we see a little less stability; yet the overall trends in Altadena, Pasadena and South Pasadena suggest that these areas remain desirable places to live. With the right marketing, homes in this region may still draw multiple offers and a sales price greater than the list price, in true "seller's market" style.

Sellers in these areas (and really, in any situation) who are having trouble generating interest for their homes may want to consider some cosmetic work on their homes or yards, to catch the eyes of buyers, in addition to re-evaluating their price. Consultation with a Realtor who can help analyze currents trends in their local market will be very beneficial when deciding for how much to list a home; hiring the agent who suggests the highest list price would be counterproductive, as most buyers won't even look at a property they feel is out of their price range.

With all the benefits offered by life in the Crescenta-Canada valley, this is a great place to be on either side of a Real Estate transaction. Check out these links for more information on the area:

LaCanadaFlintridge.com - Official city website

DescansoGardens.org - Local attraction, a huge, beautiful garden with thousands of roses and other spectacular flowers and foliage; a great place to walk or hike, with a Japanese tea house for lunch or snacks. Host your wedding here!

CVHistory.org - Official website for the Crescenta Valley Historical Society

Trails.com - Try their 14-day free trial for access to information on thousands of hiking trails nationwide, or sign up for a year of access for $49.95.