Let’s dissect the La Crescenta Housing Market December 2020.
Last month the least expensive sale was a two bedroom, one bathroom, 728 square foot home. It was located at 3637 1st Ave. and sold for $665,000 which was $15,000 over the asking price. The most expensive home was a five bedroom, five bathroom, 4,649 square foot home located at 2441 Laughlin Ave. This luxury home sold for $2,325,000. Twenty-three sold over the asking price, two at asking and nine for less than asking. Six of the thirty-four La Crescenta homes had price reductions prior to selling.
Thirty-four La Crescenta homes sold last month. December 2019, there were just nineteen La Crescenta home sales. December was one of our busiest months at Harb & Co. both with closings, escrows and preparing new listings for sale.
The absorption rate was the lowest of the year and a bit lower than last December (2019) which was 0.42%.
“The housing market performed remarkably well in 2020 despite the volatile economic state. While we can expect to see lingering effects of COVID-19 resurgences and subsequent shutdowns in the early months of 2021, vaccine distributions and stimulus actions should revitalize economic activity and keep home purchase demand and home price growth strong.” -Frank Martell
President and CEO of CoreLogic
