LA CANADA
The real estate market in La Canada remains a strong sellers market, with more people looking to purchase real estate in the area than listings for sale. Homes are selling quickly with an average of 33 days on the market, up from a 43-day average a year ago. There is currently a strong demand for homes in the $700,000 to $1,500,000 range, a trend likely to continue given the fact that La Canada is one of the wealthiest communities per capita in Southern California. The excellent school system in the area is also a strong consideration for people considering relocation. Overall, home prices in La Canada range from about $300,000 up to $4,500,000. For July 2003, a total of 55 homes closed in La Canada at a median price of $835,000 (up from a median price of $654,500 a year ago). The average cost per square foot was $391.
LA CRESCENTA
The real estate market in La Crescenta continues to be a seller's market fueled by a low listing inventory and a high number of buyers. Many people are looking to buy in La Crescenta, drawn by the charm of small town living so close to major urban metropolises such as Los Angeles. The award-winning schools attract people looking to relocate. Multiple offers and a sales price over the original list price are common; however, it is still possible to pick up a fixer for those looking for a bargain or "sweat equity". For July 2003, a total of 61 homes closed at a median price of $450,000, a 16% increase over the median price of $351,000 a year ago. The price per square foot was $337.
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