La Canada Housing Market March 2022

Here’s our in-depth view of the La Canada Housing Market for March 2022: Last month, twenty-one homes sold. Just six of these La Canada home sales were less than $2,000,000. Fourteen of these homes sold over the asking price. Three at asking and four less than asking.

Just one home had a price reduction prior to selling. The average price per square foot ranged from $645 to $1,407 per foot. 5220 Ocean View Blvd., located in the Sage Brush neighborhood of La Canada, sold for $645 per foot. It is a five-bedroom, five-bath 3,525 square foot home.  4228 Chula Senda sold for $1,407 per foot. It is a 2,375 square foot home sited on a 40,511 square foot lot. Chula Senda sold for land value of $3,495,000.

Last month, the least expensive La Canada home sale was a two-bedroom, two-bathroom, 1,698 square foot home located at 5114 Angeles Crest Highway.  It sold for $1,227,000 and was originally listed for $975,000. The highest-priced La Canada home sale was a six-bedroom, seven-bathroom, 8,073 square foot home located at 4331 Shepherds Lane. It sold at the list price of $6,250,000.

The low absorption rate reflects the severe shortage of La Canada housing.  Several weeks ago, we wrote an offer for one of the La Canada Country Club townhomes. There were twenty-seven offers. Apparently, we were not in the running, as we didn’t even receive a counteroffer.