As a La Crescenta real estate expert, I must keep up today on current trends. Let’s crunch the La Crescenta Housing market numbers in August 2022. The average sales price slightly increased while the median price decreased—thirteen homes sold over the asking price. Three sold for asking and nine less. The least expensive home sold in La Crescenta was a two-bedroom, two-bathroom, 1,051-square-foot home located at 3240 Brookhill St., selling at the asking price of $899,000. The most expensive sale was a three-bedroom, three-bathroom, 2,217-square-foot home located at 2512 Rockdell St. This Briggs Terrace home was initially listed for $1,600,000 and sold over the asking price at $2,017,640.
The price per square foot ranged from a low of $442.43 for a 3,618 square-foot home in the Markridge Estates Neighborhood. An 1159 square foot home on Vicwood sold for $1,044.00 per square foot.
Some believe the La Crescenta housing market favors buyers, and prices are ready to plunge. That is not correct. It is no longer an insanely hot, out-of-control housing market with higher values. It is taking a bit longer (days on the market) to find a buyer, and some homes (overpriced) are lingering on the market. Yet, the market still lines up in favor of sellers. Why is that? The high mortgage rate environment and muted demand match an equally muted supply. Homeowners opt not to place their homes on the market, and this dilemma is evident in August.
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