As a top La Canada Realtor, I look forward to crunching the weekly housing numbers. Let’s jump into the La Canada Housing Stats for January 2023. Eleven homes sold last month. Last year thirteen were sold. The average selling price and median price have also significantly dropped. The number of days on the market has increased.
The least expensive home sold in La Canada in January 2023 was a three-bedroom, one-bathroom, 1,383 square-foot home located at 4555 Encinas Dr. Originally listed for $1,199,000. It sold for $1,261,000 in twenty-four days. The most expensive home sold was a five-bedroom, five-bathroom, 5,761-square-foot home located at 768 Forest Green Dr. It was initially listed for $4,379,000 and sold for $4,240,000 in one hundred and thirty-three days.
The absorption rate remains low as interest rates have increased. Likewise, who wants to trade their existing 3% mortgage for a 6% mortgage?
The average price per square foot fluctuated, with a low of $735.98 for the above Forest Green sale. A 2,266-square-foot home on nearly an acre sold for $1,853.49 per foot. When examing the La Canada housing stats for January 2023, note that the Forest Green sale skewed the numbers for the average price per square foot.
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