An off-market home just entered the annals of La Cañada Flintridge history as being the highest recorded home sale of all time in the 91011 ZIP code.
The estate, located at 4110 Woodleigh Lane, recently closed with a $10.5 million price tag, placing it squarely on top of Multiple Listing Service’s list of top-priced LCF homes.
Rachel Ashton, who represented the home’s seller along with Partners Trust colleague Laura Brandt, said the home had previously been listed on the market in 2014.
“It comes down to the agent believing in it,” Ashton said in a telephone interview. “The home itself is absolutely worth every penny. If it was located in another area, it might have commanded a much higher price than even this record-setting one.”
The 11,296-square-foot home, described stylistically as an Irish country manor, includes five bedrooms, five full bathrooms, three half-bathrooms, a library with a fireplace, a butler’s pantry, a screening room and an open wine room situated adjacent to a billiards room. The 2.3-acre property also includes a two-story 1,000-square-foot guest house (complete with an elevator) and a three-hole golf course.
The home was built in 1928 and, after its sellers bought it in 2004, was extensively renovated and expanded in a three-year period. It had been on the market for two months when Ashton and Brandt closed the deal.
This sale surpassed the previous record of $7.85 million for a home, which was recorded in December. Brandt said she believed this adds to evidence that LCF’s real estate market continues to see growth.
“It’s been on the steady incline in the last couple of years,” Brandt said. “Just in the last year, the high-end market (homes selling for $5 million or more) had much more movement and that’s a good sign for the future stability of the market. Generally, when the real estate isn’t doing well, high-end doesn’t really move at all.”
Janice McGlashan of Coldwell Banker’s La Cañada Flintridge office and Heidi Lake of Sotheby’s Beverly Hills office represented the home’s buyer.
“It’s an exquisite, landmark estate for La Cañada,” McGlashan said. “I’m proud to be part of the sale.”
High-priced sales help boost property values in the area because it justifies determining higher asking prices for when homes hit the market.
“Now having this on the books, it just bumps that price per square foot, or other factors we use to price the home, up by that much more,” Ashton said. “It does absolutely bump the potential value of every home up.”
The seller’s agents added they believed LCF is experiencing a net population growth, thanks in large part to the routinely high-performing public and private schools in the area.
“The housing inventory is just so small right now, which, to me, is a clear sign that more people are moving in than moving out,” Brandt said.
