The La Canada housing market for April 2021 is still going strong. Let’s crunch the numbers!
Last month, thirty-one homes closed escrow, marking a strong period for the market. An impressive twenty-two of those homes sold above their asking price, reflecting high demand and competitive bidding. Meanwhile, one home secured its full asking price, and eight properties closed under their initial listing price. Notably, only three homes required price reductions before selling, highlighting the strength of current pricing strategies. Over half of the homes sold for more than $2 million, underscoring the robust market activity in the luxury segment.
Last month, the least expensive home sold in La Canada was a three-bedroom, two-bathroom, 1,388-square-foot home located at 4407 Rockmere Way, which closed escrow for $1,025,000. The most expensive home sold was a seven-bedroom, ten-bathroom, 8,011-square-foot estate located at 4055 Chevy Chase Dr., which sold for $7,215,000.
La Canada Housing Market April 2021 Recap:
The La Canada real estate market is experiencing remarkable momentum, with the days on the market (DOM)—the average time it takes for a property to sell—now at its lowest point of the year. This rapid pace reflects strong buyer demand and well-priced listings moving quickly. In addition, the average selling price compared to the original list price has reached its highest level year to date, signaling fierce competition among buyers, often resulting in offers that meet or exceed asking prices.
Another clear indicator of market strength: only three homes in La Canada sold for less than $1,500,000, underscoring the area’s high property values and desirability. With limited inventory and robust demand, La Canada’s market continues to favor sellers, making it an ideal time to list a property.
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