🔥 What Is My Burned Altadena Lot Worth?

Post-Eaton Fire Property Valuation Guide

Quick Answer: As of October 2025, burned lots in Altadena have sold for prices ranging from $226,000 to $1,050,000 depending on size, location, and property characteristics. Based on 177 recorded sales through early October, the median sold price is $515,000 with an average of 40 days on market. Flat residential lots in East Altadena typically command higher prices per square foot than hillside properties requiring geologic surveys.

When the Eaton Fire tore through Altadena in January 2025, over 9,400 structures were lost. By fall, the conversation shifted from survival to value. Today, every displaced homeowner is asking the same question: "What's my burned lot actually worth?"

The answer varies dramatically by location, lot characteristics, and market timing — but armed with current MLS data and actual sale prices, you can understand exactly where your property stands in today's market.

🧭 The Current Land Market at a Glance

Based on MLS data compiled through October 5, 2025, the Altadena burned lot market has evolved significantly over the past nine months:

Metric	Active Listings	Pending Sales	Sold (YTD)
Total Listings	78 lots	14 lots	177 lots
Median List Price	$624,999	—	—
Median Sold Price	—	—	$515,000
Median Days on Market	—	—	40 days

Source: MLS Altadena Land Report, compiled October 5, 2025

The market has stabilized from the initial post-fire chaos of early 2025. While lots are no longer selling in single-digit days with multiple bidding wars, qualified buyers continue to move quickly on well-priced inventory.

📈 Market Evolution: January → October 2025

The Altadena lot market has gone through distinct phases:

Period	Median Sale Price	Median Days on Market	Market Characteristics
Oct 2024 - Apr 2025	$605,000	5 days	Immediate post-fire urgency, limited inventory
Apr 2025 - Jul 2025	$600,000	11 days	Peak activity, bidding wars common
Jul 2025 - Oct 2025	$510,000	40 days	Stabilization, more rational pricing

Source: MLS Inventory Analysis, October 5, 2025

Key Insight: The market has cooled from the frantic pace of spring 2025. Days on market have increased from 5 days to 40 days, and median prices have adjusted downward by approximately 15% from peak levels.

🏘 Who's Buying Burned Lots Now

Research by Inclusive Action for the City and SAJE documented a dramatic shift in buyer composition. According to their August 2025 report analyzing 151 post-fire sales from February 11 to July 5, 2025:

Corporate Acquisition Surge:

• 49% of sales went to corporate entities (74 out of 151 parcels)
• 10% baseline - corporate purchases during the same period in 2024
• 5x increase in corporate acquisition activity post-fire

By October, internal MLS tracking shows this trend continuing with corporate entities accounting for approximately 56% of post-fire acquisitions.

Typical Buyer Categories:

• Real estate investment trusts (REITs)
• Out-of-state limited liability companies (LLCs)
• Developer consortiums
• Institutional investors
• Build-to-rent portfolio companies

The Inclusive Action report notes that "post-fire property sales are notably concentrated in BIPOC communities" and warns that without policy intervention, longtime Altadena residents — particularly the historic Black homeowner community in western Altadena — face displacement through economic pressure.

📊 Real Sales: What Actually Happened

Understanding the market means looking at actual transactions across different Altadena neighborhoods:

East Altadena: Fast-Moving Residential

2717 N Raymond Avenue (March-April 2025)

A typical East Altadena residential lot near Fair Oaks. Listed at $500,000, the property received multiple offers within 11 days and sold for $595,500 — representing 119% of the asking price. This demonstrates the strong demand for flatter, residential lots in the eastern part of Altadena during spring 2025's peak market activity.

• Listed: $500,000
• Sold: $595,500 (119% of ask)
• Days on Market: 11
• Outcome: Individual buyer, bidding war scenario

North Altadena Hillside: Premium View Lot

2477 Morslay Road (March-April 2025)

A hillside property in North Altadena with significant elevation. Listed at $749,000, this lot received exceptional buyer interest and sold for $1,050,000 in just 2 days — an extraordinary 140% of the listing price. This sale illustrates how premium view lots with desirable characteristics can command significant premiums even with hillside development requirements.

• Listed: $749,000
• Sold: $1,050,000 (140% of ask)
• Days on Market: 2
• Outcome: Likely represents retained views and superior location

Central Altadena: Adjusted Pricing

3122 Marengo Avenue (July-September 2025)

A central Altadena lot that entered the market as conditions began cooling. Listed at $499,000, the property ultimately sold for $475,000 after 54 days on market — selling at 95% of the asking price. This sale reflects the more measured pace of the summer/fall market and the importance of realistic pricing for optimal results.

• Listed: $499,000
• Sold: $475,000 (95% of ask)
• Days on Market: 54
• Outcome: Reflects market normalization, price-sensitive buyers

All sales verified through MLS records (October 5, 2025)

💰 Understanding Price Ranges by Location

Based on 177 completed sales through October 2025, lot values vary significantly by area:

Price Distribution:

• Entry Market: $226,000 - $400,000 (smallest lots, challenging locations)
• Core Market: $400,000 - $650,000 (typical residential lots, 7,500-9,000 sq ft)
• Premium Market: $650,000 - $1,050,000 (larger lots, superior views, approved plans)

Geographic Patterns:

• East Altadena (Lake Ave/Fair Oaks area): Flatter terrain, faster sales, higher per-sq-ft values
• Central Altadena (Marengo/Maiden area): Mid-range pricing, moderate absorption
• North/Hillside Altadena (Crest/Devonwood area): Wide price variance based on views and slope

Properties with retained views, confirmed utility connections, or approved rebuild plans consistently sell faster and command price premiums.

⚖️ Rebuild or Sell? Key Considerations

If you owned and lived in your home before the fire, your decision carries significant financial and personal implications:

Rebuilding Considerations:

• Preserves your Prop 19 property tax protection
• May qualify for IRC §1033 involuntary conversion tax treatment (consult CPA)
• Maintains community ties and legacy
• Requires managing construction timeline and contractor relationships
• Success depends on adequate insurance coverage and financial reserves

Selling Considerations:

• Provides immediate liquidity (current market: 40 days average to close)
• Eliminates construction management responsibilities and timeline uncertainty
• Allows relocation flexibility without construction stress
• For homeowners 55+, Prop 19 allows transfer of tax basis to new California home
• May be optimal if facing significant insurance coverage gaps

Critical Tax Considerations: Your Prop 13/Prop 19 tax basis is valuable. If you purchased your home years ago, you likely have a property tax assessment far below current market value. Consult with a CPA before making decisions, as the tax implications can be substantial (potentially $8,000-$15,000 in annual property tax differences).

🔍 How to Assess Your Lot's Market Position

Follow this framework to understand your property's value:

Step 1: Identify Your Lot's Characteristics

Essential Information:

• Exact lot size (square feet)
• Topography (flat, moderate slope, or steep hillside)
• Current utility status (water, power, sewer confirmed or needs restoration)
• Location within Altadena (east, central, north/hillside)
• Property-specific factors (views retained, corner lot, approved plans)

Step 2: Find Comparable Sales

Search MLS or work with a local agent to find:

• 3-5 sales within the last 60-90 days
• Properties within 0.5 miles of your location
• Similar lot sizes (within 2,000 sq ft of your property)
• Similar topography and characteristics

Step 3: Analyze Market Timing

Consider current market conditions:

• Properties listed in spring 2025 sold at peak prices with minimal days on market
• Summer/fall 2025 listings experienced longer market times and price adjustments
• Well-priced inventory still moves within 30-45 days

Step 4: Account for Value Factors

Properties sell for more when they have:

• Confirmed utility connections (no restoration required)
• Flat or gently sloping terrain (avoids expensive geologic reports)
• Retained views despite fire damage in surrounding area
• Approved rebuild plans or recent property surveys
• Corner lots or superior street access

Properties require price discounts when they have:

• Steep slopes requiring geologic certification
• Irregular shapes limiting buildable area
• Utility restoration requirements
• Access challenges or easement complications
• Extended market time suggesting overpricing

Step 5: Establish Your Value Range

Use comparable sales to establish a realistic range:

• Low end: Conservative pricing for quick sale
• Market value: Most likely sale price based on recent comps
• Optimistic: Maximum value if multiple buyers compete

💡 Want a Professional Valuation?

The Borges Real Estate Team provides complimentary, data-backed property valuations for Altadena fire survivors using:

• Current MLS comparables updated daily
• Lot-specific analysis (size, topography, utilities, location)
• Market timing considerations
• Corporate buyer activity patterns

📩 Email me at justin@lametrohomefinder.com with your:

• Property address or APN
• Approximate lot size (if known)
• Utility status (if known)
• Whether you're considering rebuild or sale

The Borges Real Estate Team will provide a personalized market analysis within 24 hours at no cost and no obligation.

📞 Ready to Understand Your Property's Value?

The Altadena land market has stabilized but remains active. Properties priced accurately based on current market data sell within 30-45 days, while overpriced listings sit for months watching their relative value decline.

Whether you're ready to sell, exploring rebuild options, or just want to understand your financial position — having accurate, current data is essential for making informed decisions.

The Borges Real Estate Team specializes in helping Altadena fire survivors navigate this complex market with data, transparency, and compassion.

📧 Email: justin@lametrohomefinder.com
🌐 Website: lametrohomefinder.com

👤 About the Author

Justin Borges, Realtor®
The Borges Real Estate Team
DRE #01940318

Justin Borges and The Borges Real Estate Team provide fire recovery property consultation throughout the Altadena and Pasadena area. Since the Eaton Fire, they have helped displaced homeowners navigate the complex decision between rebuilding and selling, providing data-backed valuations and straightforward guidance during life's most challenging transitions. With direct access to real-time MLS data and deep knowledge of Altadena's distinct neighborhoods, The Borges Real Estate Team provides property owners with accurate information needed to make confident decisions about their future.

Learn more at lametrohomefinder.com

Licensed California Real Estate Broker. All information provided for educational purposes. Consult with licensed professionals (CPA, attorney, insurance adjuster, contractor) before making financial decisions regarding your property.

📚 Data Sources & Methodology

This analysis is based on verified data sources:

1. MLS Sales Data – Comprehensive sales tracking through October 5, 2025, including all 177 recorded burned lot transactions in Altadena year-to-date. Data compiled by The Borges Real Estate Team (Justin Borges, DRE #01940318).
2. Corporate Acquisition Research – "Confronting Disaster: Curbing Corporate Speculation in Post-Fire Altadena" by Inclusive Action for the City, SAJE, and community partners (August 27, 2025). This report analyzed 151 post-fire sales from February 11 to July 5, 2025.
3. LA County Assessor Records – For historical property data, parcel characteristics, and ownership verification.

Important Disclaimers:

• Market conditions change rapidly post-disaster. All data is accurate as of October 5, 2025 but should be verified for current accuracy.
• Individual property values vary significantly based on specific characteristics not captured in aggregate data.
• This analysis does not constitute financial, legal, or tax advice.
• Construction costs, permit timelines, and insurance coverage vary by individual circumstance.

Market Context: While this analysis focuses on property values, it's important to acknowledge the human impact. Altadena's small business community continues rebuilding, and residents demand accountability for evacuation failures that disproportionately affected western Altadena — the same neighborhoods now experiencing concentrated corporate land acquisition.

Last Updated: October 6, 2025

❓ Frequently Asked Questions

How quickly are Altadena burned lots selling?

Current market data (July-October 2025) shows lots are taking an average of 40 days to sell, significantly longer than the 5-11 days typical in spring 2025. Well-priced properties with desirable characteristics still sell within 20-30 days, while overpriced or challenging lots may take 60-90+ days. Properties with confirmed utilities and flat terrain tend to sell fastest.

Should I rebuild or sell my burned lot?

This depends on your insurance coverage, financial reserves, timeline flexibility, and long-term goals. Rebuild if your insurance covers full replacement costs and you want to preserve your Prop 19 tax basis while staying in Altadena. Sell if you face significant insurance shortfalls, cannot manage an extended construction timeline, or are emotionally ready for a fresh start. If you're 55+ and relocating within California, Prop 19 allows you to transfer your tax basis to your new home, making selling more attractive. Schedule a consultation at justin@lametrohomefinder.com to analyze your specific situation.

What affects my lot's value the most?

Location within Altadena is the primary driver. East Altadena lots on flatter terrain command higher prices per square foot than hillside properties. Confirmed utility connections significantly increase value and marketability. Lot size matters, with 7,500-9,000 sq ft properties having the most buyers. Properties with approved rebuild plans or completed surveys sell faster and at higher prices. View retention despite surrounding fire damage adds substantial value, as demonstrated by premium hillside sales.

Are corporations really buying most of the lots?

Yes. Research documented that 49% of post-fire sales from February-July 2025 went to corporate entities, compared to only 10% during the same period in 2024 — a 5x increase. Internal MLS tracking through October shows this trend continuing at approximately 56% of transactions. These entities typically acquire properties at market rates, rebuild, and target resale at higher values within 18-24 months. This pattern has raised concerns from community advocates about preservation of Altadena's historic character and displacement of longtime residents.

Do I need a property survey before selling?

Not legally required in most cases, but highly recommended. If your property boundaries were marked by fencing or structures destroyed in the fire, a survey ($500-$1,200 typical cost) provides clarity for buyers and prevents closing delays. Hillside lots especially benefit from surveys documenting buildable area calculations and setback requirements. Most serious buyers, particularly corporate entities, will require surveys during due diligence regardless. Having one completed proactively can accelerate your sale timeline by 1-2 weeks.

How does Prop 19 affect my decision to rebuild or sell?

Prop 19 is California's property tax portability law. If you're 55+, severely disabled, or a wildfire victim, you can transfer your current property tax basis to a new home anywhere in California up to three times. This is valuable if your original home had a low Prop 13 tax assessment. For example, if your pre-fire property tax was $3,000/year based on a 1990s purchase price, and a comparable new home would have $12,000/year property tax at current assessed value, Prop 19 lets you keep the $3,000/year rate. This makes selling and relocating financially viable. Consult a CPA to calculate your specific tax implications.

How do I get a current market valuation for my specific lot?

Email justin@lametrohomefinder.com with your property address or APN. The Borges Real Estate Team will analyze recent comparable sales (last 60 days within 0.5 miles), your lot's specific characteristics (size, topography, location, utilities), current buyer demand indicators, and realistic pricing strategy based on market conditions. You'll receive a comprehensive market analysis within 24 hours, completely free with no obligation. This includes current market timing recommendations and realistic expectations for days on market based on similar properties.