It continues to be a very difficult real estate environment for La Crescenta home buyers, evidenced by the low absorption rate, even with the past holiday season, this city has not slowed down with it’s rising prices. Half of La Crescenta homes sold for under $927,500 and half over (median selling price), which is up almost $100,000 from last month. La Crescenta real estate values ranged from $645,000 for a 866 square foot home to $1,410,000 for a 3,322 square foot home on Pineridge Dr.
Looking back at La Crescenta home statistics from a year ago: Average price per square foot $556 / Average Selling Price $867,272 / Absorption Rate 1.22 / Median Selling Price $817,500. It’s going to be a very difficult year for La Crescenta home buyers. I opened escrow on our Dyer listing in La Crescenta for well over the asking price of $950,000. Sadly there were lots of disappointed buyers, most of whom I met at our open houses. Our other La Crescenta listing at 3513 Fairesta Street received multiple offers and we should be opening escrow this week.