Let’s take an in-depth look at the La Crescenta Housing Market for November 2022. The average price per square foot is the lowest year to date. The average and median selling prices are the lowest year to date. Additionally, the days on the market have increased to forty-one, the highest year to date. Four of the sixteen homes sold for over the price. Three at the asking and nine less than the asking price.
The selling price to the list price is the lowest year to date. Half the homes had to reduce their initial sales price before eventually selling. The least expensive home sold was a two-bedroom, two-bathroom, 1,292-square-foot home located at 2415 Olive Ave. This home was initially listed for $1,100,000 and had a drastic price reduction to $850,000 before selling for $750,000. The most expensive home sold was a three-bedroom, three-bathroom, 2,380 square-foot mid-century home located at 3040 Hopeton Road. This home was initially listed for $1,750,000 and sold for $1,800,000.
The absorption rate has decreased from October. This is typical for this time of year, as most sellers don’t opt to put their home on the market too close to Christmas. It will be interesting to learn if there is a significant increase in La Crescenta listings in January rather than waiting until Spring.
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La Canada Housing Market Update Novermber 2022
