La Crescenta Housing Update June 2019: Twenty-nine La Crescenta homes (91214 zip) closed escrow last month. Prices ranged from a one-bedroom, one-bathroom, 420 sq ft home on Mary St., which sold for $488,000 to a six-bedroom, four-bathroom, 3,518 square-foot home at 5444 Pine Cone Rd. selling for $1,775,000.
Fifteen of these homes sold for over the asking price. Two of these La Crescenta listings had a price reduction before selling. Eleven sold for less than the original asking price, and three at the asking price.
The absorption rate of 1.34% indicates that if there were no new listings, we would run out of housing inventory in just over one month. The current La Crescenta housing market is unbalanced and heavily favors home sellers.
Our new Montrose listing at 2340 Barton Lane is coming on the market next week, just in time for the last summer buying rush. 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 Crescenta 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.
Related Post: 2340 Barton Lane Montrose
