Let’s take a look at the housing market for La Crescenta, zip code 91214, for February 2021. Last month, just fourteen homes closed escrow; fewer than in January. Nine of these La Crescenta home sales were over one million. Eleven of these homes sold for over asking price and three below their asking price.
The least expensive La Crescenta sale was a two-bedroom, two-bathroom, 1,312 square foot home located at 4935 Ramsdell Ave. Originally listed at $899,000 later reduced to $849,000 and finally sold for $804,900. In the current La Crescenta housing climate, it doesn’t pay to overprice your home. While most sellers are negotiating up, this unlucky homeowner negotiated down.
The most expensive home sold was a three-bedroom, three-bathroom, 2,055 square foot home located at 5015 Verwood Ave, which sold for $1,400,000, which was $300,000 over asking.
The average La Crescenta home is selling in less than a month for nearly 7% over the asking price. This makes it very difficult for buyers to know how much to offer when competing in multiple offers. Housing inventory is at its lowest level in two decades. And in this instance, buyers must have a local, experienced Realtor representing them.
