As a top La Canada real estate agent, it’s critical for me to keep abreast of current market conditions. Let’s dive into the La Canada Real Estate for February 2024. Last month, eight homes closed escrow, up from January’s—three. Three of the sales sold over the asking price, two at asking, and three below asking. A five-bedroom and four-bathroom home at 4888 Commonwealth Ave sold for $692.43 per foot. This home was on the market for 178 days. A two-bedroom one bathroom at 1041 Green Ln sold for $1,278.83 per foot.
The least expensive home sold in La Canada was the two-bedroom, one-bathroom, 1,474-square-foot home at 1041 Green Ln. It was initially listed for $1,795,000 and sold over asking for $1,885,000 in twenty-one days. The most expensive home sold was a five-bedroom, seven-bathroom, 6,504-square-foot home located at 4365 Encinas Dr. It was initially listed for $5,950,000 and sold in sixty-five days for $5,470,000. A home at 1917 Lyans Drive sold off the market (without MLS entry).
From Core Logic: Despite housing affordability challenges, the first-time home buyer share is likely to stay at its current level for the foreseeable future. Potential FTHBs who have paused their home searches for a while may enter the housing market soon, while most current owners may wait a little longer to move up until mortgage rates relax.
That’s a wrap for the La Canada Real Estate for February 2024.
