Let’s take a look at the La Crescenta housing stats for April 2021. Last month thirty-five homes closed escrow. Twenty-six homes sold over asking, three at asking and six less than asking. Only two La Crescenta homes had price reductions.
The least expensive sale was a three-bedroom, three-bathroom, 1,248-square-foot home at 3346 Altura Ave. It sold for $752,000. The most expensive home sold last month in La Crescenta was a three-bedroom, two-bathroom, 2,678 square foot home located at 4935 El Sereno Ave. It sold for $1,622,000.
Only ten La Crescenta homes sold under $1,000,000.00. Seven homes in the 91214-zip sold over $1,500,000. The average selling price is the highest year to date. Last month homes sold faster than any other month this year. The absorption rate is the lowest for the year, reflecting a very unbalanced market.
There are more Realtors than listings! According to the National Association of Realtors, the number of Realtors jumped to 1.448 million. An increase of 5% from 2020. But at the end of February 2021, there were only 1.03 million listings.
“Lower-priced homes are in big demand and short supply, driving up prices faster compared to their more expensive counterparts. First-time buyers seeking a starter home priced 25% or more below the local-area median saw prices jump 15.1% during the past year, compared with the overall 11.3% gain in our national index.” Read more at CoreLogic
