La Canada Market Activity This Week

We had 6 new listings come on the market in La Canada:

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2059 HIlldale is just on the south side of the freeway next to Montrose. It was listed for 4 months in '06 at $835,000 and did not sell. Now it is listed for $19,000 more than that in an arguably worse market. Hmmm....4818 La Canada Blvd. is a nice 2 bedroom with a pool in a nice location above the school. 1943 Lyans has great curb appeal and is in a good location. 172 Lamour last sold in early '05 for $1,195,000. Homes like this provide a good indicator of where the market has gone in the last 12 months. While it varies from house to house, we are seeing '05 prices again. 1045 Lavendar is a newer (2007) home with a good floor plan, pool house and a loft above the garage. 1032 Wiladonda is a gorgeous new home on a large lot with a pool. Don't dismiss because of the proximity to Angeles Crest. The house sits at the end of the cul-de-sac and is in a very private setting. Several of the neighboring homes have been renovated or rebuilt and the street is being redone. The house will be open Sunday 2:00-4:00. It is a treat to see so even if you are a "lookey-loo," go to the open house.

We had 1 house go into escrow this week:

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4588 Viro last sold in '03 for $741,000 (even in this declining market it is hard to imagine prices going that low again). It was listed in June for $1,149,000, then reduced to $1,099,000. They ended up with a new agent at the most recent price of $999,999. Let's see where it closes...

We had 1 house close escrow in La Canada this week:

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941 Wiladonda was listed in July for $1,049,000, reduced in September and went into escrow 3 weeks later. It is a charming home but close to Angeles Crest. The seller did well at over $500 per foot in that location.

The market is slow, slow, slow! Buyers seem to be holding back and the new mantra is "we're waiting until next year." Because of this prevailing attitude, serious buyers will have great opportunities in the coming months.