It continues to be a very difficult real estate environment for La Crescenta home buyers, evidenced by the low absorption rate; the highest for the year was 2%. Last month the absorption rate of less than 1% indicates that if there were no more new La Crescenta listings, we would run out of inventory in less than one month.
Half of La Crescenta homes sold for under $832,500 and half over (median selling price). Last year, I found homes for three La Crescenta buyers and each one paid well over asking price and allowed the home seller a rent back.
Values ranged from $680,000 for a 915 square foot home to $1,525,000 for a 4100 square foot home on Quail Canyon.
it will be very interesting to watch the real estate market in 2018 to see if the new tax laws make any difference in housing enthusiasm in california