La Crescenta Housing Market Update, August 2018: Last month, twenty-five La Crescenta homes closed escrow, down from last month’s thirty-six. Fifteen of these homes sold for over the asking price but note there were two price reductions last month. A two-bedroom, one-bathroom, 971 sq ft home on 3rd Ave. sold for $650,000, and a 4-bedroom, 3-bathroom, 2,644 sq ft home on Pinelawn Dr. sold for $1,600,000. Click here to learn more about event pricing and how it plays on herd mentality.
The low absorption rate continues to reflect the strong seller’s market, especially for homes priced under $1,000,0000. Median Price vs. Average Price: which is the most telling? The median selling price is the better indicator of value. The median selling price in La Crescenta last month was $905,000. Half of the homes sold for more and half sold for less. The median selling price isn’t influenced by an abnormally high or low sale price.
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325.
