Last month the most expensive home sold in La Canada in August 2018, was 4363 Oakwood Ave. This home listed for $6,500,000 and sold for $5,870,000. The sellers purchased this home in 2009 for $4,920,000. These previous sellers bought this La Canada home in 2004 for $1,775,000 as a tear down and built this gorgeous estate.
MLS remarks read: One of a kind, French Country Estate nestled amongst million dollar homes. This magnificent estate was created utilizing both new & old techniques fusing modern conveniences & old world craftsmanship. Quality construction & attention to detail are seen throughout the residence. Central Hall floor plan with formal living & dining rooms. A huge family room with bar, gourmet kitchen, breakfast room. Also featuring media room, powder room, wine cellar, pantry, library, laundry room. Wood, limestone, marble, granite, hand forged ironwork, 5 fireplaces, pool, spa, outdoor BBQ place, 3 car garage; absolutely incredible. You can turn attic into your favorite space. This is a rare to find custom dream home.
The most interesting fact is that the current buyer of this very expensive La Canada home has a note (loan) for $5,650,000 with a holding company. The home was purchased with just a $220,000, down payment.
Buyers have been struggling to find affordable homes this year, as the supply of homes for sale has fallen for most of the year. It was finally flat in July, BUT, the market needs a significant surge in new listings in order to cool prices and boost sales. Read more here: