La Canada First Quarter of 2018 Housing Market Update. We love crunching the La Canada housing numbers each month and have been doing so for a decade.
Last month, there were twenty-eight La Canada home sales. The least expensive sale was $1,219,170 for a three-bedroom, two-bath home on Ocean View Dr. in La Canada’s Sagebrush neighborhood. The most expensive home sold for $7,000,000 for a 9,227 sq ft home on Georgian Rd. The low absorption rate of just over 2% indicates an extremely strong sellers’ market. Buyers in the Foothills continue to be overbid in multiple offer situations. The competition is fierce.
La Canada First Quarter 2018 Housing Update:
Last month, there were twenty-eight La Canada home sales. The least expensive sale was $1,219,170 for a three-bedroom, two-bath home on Ocean View Dr. in La Canada’s Sagebrush neighborhood. he most expensive home sale last month set a high bar. A stunning 9,227-square-foot estate on Georgian Rd. sold for $7,000,000. This luxurious property captured buyers’ attention with its grand design and prime location.
Meanwhile, the market’s low absorption rate of just over 2% signaled a powerful seller’s market. Homes continued to move quickly. Inventory remained scarce, adding pressure to already eager buyers. In the Foothills, competition stayed fierce. Buyers often faced multiple offer situations, driving prices higher. Many found themselves overbidding just to stay in the running. As a result, well-priced properties attracted significant attention, often selling above the asking price.
Sellers benefited from these conditions. They enjoyed stronger negotiating power and quicker sales. For buyers, patience and preparation became essential in this fast-paced market.
Overall, the Foothills real estate scene remains competitive and robust. The demand for luxury properties, combined with limited inventory, keeps driving prices up.
I have a 3,000+ square foot La Canada pool home coming on the market in June. Call for details!
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