La Crescenta Housing Market Update, August 2018: Last month twenty-five La Crescenta homes closed escrow, down from last months thirty-six. Fifteen of these homes sold for over the asking price but note there were two price reductions last month. A two bedroom, one bathroom, 971 sq ft home on 3rd Ave. sold for $650,000 and a 4 bedroom, 3 bathroom, 2,644 sq ft home on Pinelawn Dr. sold for $1,600,000. Click here to learn more about event pricing and how it appeals to the herd mentality.
The low absorption rate continues to reflect the strong seller’s market; especially for homes priced under $1,000,0000. Median Price vs. Average Price, which is the most telling? The median selling price is the better indicator of value. The median selling price in La Crescenta last month was $905,000. Half of the homes sold for more and half sold for less. The median selling price is not influenced by an abnormally high or low selling price.
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325. Click here to keep apprised of real estate values in your neighborhood.
