At Harb & Co. we love number crunching! Let’s take a look at the La Crescenta Real Estate Values May 2020:
Last month the least expensive La Crescenta sale was a three bedroom, one bath home, 1,008 square foot home on Anderson Ave. It sold for $645,000. The most expensive La Crescenta home sale was a four bedroom, four bath 2,873 square foot home located at 4823 Briggs Ave. This newly built La Crescenta home sold for $1,507,000.
Below you will see the comparison between May 2020 and May 2019. COVID has slowed the La Crescenta spring selling season.
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The absorption rate indicates that if there were no new La Crescenta listings to come on the market, we would run out of inventory in less than two months. La Crescenta real estate values May 2020 remain high. Now is an excellent time to list and sell your La Crescenta home.
From the Core Logic blog:
“The very low inventory of homes for sale, coupled with homebuyers’ spur of record-low mortgage rates, will likely continue to support home price growth during the spring. If unemployment remains elevated in early 2021, then we can expect home prices to soften. Our forecast has home prices down in 12 months across 41 states.”
