Let’s examine the La Canada real estate market update for February 2022. The inventory in La Canada remains sparse. In February 2022, the La Canada housing market saw relatively low activity. , Just seven homes sold. Despite the limited number of transactions, the market showed strong demand. Four of the seven homes sold exceeded their asking prices. This indicates buyers were willing to compete and bid above the listing prices. This suggests a highly desirable market. Properties competitively priced. There was enough buyer interest to drive offers above asking.
On the other hand, three homes sold for less than asking. This points to some room for negotiation, though it wasn’t widespread. Notably, none of the homes required price reductions before selling. It reflects a relatively stable market where homes were priced appropriately for current conditions, and sellers didn’t have to lower prices to attract buyers. While February 2022 had fewer sales, the market activity highlighted healthy buyer interest, with many homes selling quickly and above asking.
The least expensive home sold was 4824 La Canada Blvd., a three-bedroom, two-bathroom, 1,224-square-foot home for $1,453,366, initially listed at $1,288,000.
The most expensive La Canada home sale was 5350 Harter Ln., a five-bedroom, eight-bathroom, 9,173 square foot home. It sold for $7,200,000.
The average price per square foot ranged from a low of $558.90 for a 6,185-square-foot home on Normandy in the Canyon to a high of $1,187.39 for a 1,224-square-foot home on La Canada Blvd. This contrast in pricing highlights how factors like home size, location, and neighborhood desirability can greatly influence the value of real estate. While a larger home might seem like a better deal based on square footage alone, its location and other characteristics are key in determining its actual market value.
Boy seems like first time buyers are still going to have a rough time with no end in sight