Let’s take a look at the thriving La Canada housing market in September 2021. Last month, twenty-six homes closed escrow. Notably, none of these properties sold for less than $1,000,000, highlighting the strength of the market. Seventeen of these homes sold for over the asking price, which indicates high demand and competitive bidding among buyers.
Meanwhile, four properties sold right at the asking price. These sellers priced their homes accurately, leading to smooth transactions. On the other hand, just five homes closed for less than the asking price. Even in a strong market, a few opportunities for negotiation still emerged.
Interestingly, only one home required a price reduction before selling. This suggests that most properties were well-aligned with market expectations from the start. As for the least expensive homes sold last month, two shared the same sale price of $1,350,000. The first was a three-bedroom, three-bathroom home with 1,261 square feet of living space located at 4610 Crown Ave. The second was a three-bedroom, two-bathroom home spanning 1,332 square feet, situated at 4842 Viro Rd. Both properties found buyers at the same price point, demonstrating strong value for their size and location.The most expensive La Canada sale was a five-bedroom, five-bathroom, 4,795-square-foot home located at 4953 Commonwealth Ave. It sold for $4,500,000 which was $310,000 over the original asking price.
The average price per square foot was $861.07. Note the average price per square foot ranged from $608.77 for a 5585 square foot home. To $1,070.58 for a 1,261 square foot home. Often smaller homes cost more per square foot. Each home requires certain high-ticket items, such as heating and air conditioning. At least one bathroom and a kitchen. As a house becomes larger the incremental cost for these pricey items lessens.
