La Canada Market Activity This Week

We have 117 active listings in La Canada. 7 are new or back on the market:

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1640 Orange Tree is in that island between Alta Canyada (between Foothill and Verdugo) and the freeway. It last sold in early 2008 for $600,000 and has been "updated." At $729,000, apparently the sellers did not get the memo about the economy. 753 Galaxy Heights is a town home near the Country Club. 4714 Daleridge is on the east side of the street. The back yard is sloped downhill. The pool sits about midway down. 1811 Earlmont is a terrific location for the price ($288 per square foot....OMG!). 621 Georgian Road is a nice Ranch that has been remodeled, but prices in the high end are taking a hit (see Beresford under 'solds") so we will see where this ends up. 954 Flintridge is another example of the aforementioned high-end slump. It was originally listed in February 2008 for $4,295,000. It was reduced to $3,995,000 six months later. Then in October, an agent change and a new price of $3,595,000. They took the house off the market in January. Now it is on at a spiffy new price of $3,049,000. Great location for the price. 4201 Mesa Vista last sold in 2006 for $5,140,000. It will be on caravan Tuesday...lovely home on a gorgeous piece of property.

It was a busy week for sales in La Canada with 5 homes going into escrow:

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310 Canon de Paraiso sold in 19 days. 4826 Alminar was listed in July for $1,395,000. It has had 3 significant reductions and is now in escrow. 4741 Orange Knoll was listed in February for $1,485,000. It was reduced to $1,399,000 and went into escrow within one week. 4825 Matley was on the market for 2 weeks before selling. 544 Castle Knoll listed January 21 for $1,675,000 and was reduced in March.

2 homes closed escrow this week:

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5220 Castle was listed in October for $1,079,950. The price was never reduced and it just closed for $925,000. One could speculate that had the home been priced more realistically (say, $999,000) it would have sold faster for more money. When houses sit, buyers get empowered. 4200 Beresford, a Paul Williams in Flintridge, listed last May for $3,595,000. It has been off and on the market since. When it reduced to $2,595,000, it sold immediately.

No open houses this Sunday. Happy Easter!