La Crescenta Housing Update July 2019: Last month thirty-five La Crescenta homes (91214 zip) closed escrow up from last month. Prices ranged from a two bedroom, one bathroom, 848 sq ft home on Piemont Ave. which sold for $700,000 to a four bedroom, four bathroom, 2,959 square foot home at 4718 Rosemont Ave. selling for $1,525,000.
Eighteen of these homes sold for over asking price. Nine of these La Crescenta listings had a price reduction prior to selling. Sixteen sold for less than the original asking price and one at asking price.
The absorption rate of .91% indicates that if there were no new listings, we would run out of housing inventory in just about a month. The current La Crescenta housing market is very unbalanced and very heavily favors home sellers.
When school starts, it is more disruptive to move a family. Once school starts, it can be too chaotic for a family to move. As a result, some buyers put their home search on hold until the following year. La Cresenta home buyers want to close escrow by mid-August. Most escrows are around thirty days giving buyers until mid-July to open escrow.
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325. Or click here to keep apprised of real estate values in your neighborhood.
La Crescenta Housing Update July 2019, deemed reliable but not guaranteed. Information pulled from MLS on 8/6/19
