Each month Harb & Co. crunch the numbers; La Canada Housing Update May 2020:
Last month the least expensive La Canada sale was a two bedroom, one bath home, 1,197 square foot home on Orange Tree Lane which sold for $874,000. This starter home sold for asking price. The most expensive La Canada home sale was a four bedroom, four bath, 4,001 square foot home located at 4309 Woodleigh Lane,which sold for $3,350,000.
Examining year over year numbers you will note that April’s sales plummeted but in May 2020, the La Canada housing picked up.
La Canada home buyers are anxiously awaiting new listings and most sell quickly. Supply is not keeping up with demand. As we are becoming more accustomed to our new pandemic environment, more sellers will list. The criteria for showing homes which are occupied has dramatically changed. Most listing agents are requiring evidence of the buyer’s preapproval prior to entry. In addition there are COVID disclosures the buyer and their real estate agent must sign. Masks are required and only one group of buyers can be in the home. The group can not consist of more than two buyers. Listing agents are then to sanitize between showings.
Entry level housing in La Canada (under $1,500,000) is very competitive. Homes listed over $2,000,000 are taking longer to sell.