Each month Harb & Co. compiles real estate statistics from the MLS. La Crescenta Housing Update November 2019: Last month, twenty-six La Crescenta homes (91214 zip) closed escrow. A one-bedroom, one-bathroom, 772 sq ft home on 2nd Ave. sold for $450,000. On the luxury spectrum was a four-bedroom, four-bathroom, 3,008 square foot home at 2716 Mary St. selling for $1,655,000- $18,000 over the asking price. Nine La Crescenta homes sold over $1,000,000.
Fourteen of these November sales sold for over asking price. Five of these La Crescenta listings had a price reduction prior to selling. Eight homes sold for less than the original asking price and four at asking price. The chart below reflects the La Crescenta Housing Update October 2019
The La Crescenta real estate market remains very competitive for home buyers. The absorption rate of .92% indicates that if there were no new listings, we would deplete housing inventory in less than one month. The current La Crescenta housing market is extremely unbalanced and heavily favors home sellers. Savvy La Crescenta home sellers are making a minimal effort to sell their home for the highest price. And they are offering a competitive list price in order to obtain multiple offers and a bidding war.
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325.
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Related Post: 2716 Mary Street La Crescenta
