Each month Harb & Co. compile real estate statistical information from the MLS. La Crescenta Housing Update September 2019: Last month nineteen La Crescenta homes (91214 zip) closed escrow. Prices ranged from a two bedroom, two bathroom, 1,108 sq ft home on Maryland Ave. which sold for $671,000 – $55,000 over asking price. On the luxury spectrum was a four bedroom, three bathroom, 2,644 square foot home at 2652 Pinelawn Dr. selling for $1,450,000- $145,000 less than asking price. Four La Crescenta homes sold over $1,000,000 with just the Pinewlawn home selling less than asking price.
Thirteen of these September sales sold for over asking price. Three of these La Crescenta listings had a price reduction prior to selling. Five homes sold for less than the original asking price and one at asking price. The graph below reflects the La Crescenta Housing Update September 2019
The absorption rate of 1.53% indicates that if there were no new listings, we would deplete housing inventory in just over one and one half months. The current La Crescenta housing market is extremely unbalanced and heavily favors home sellers.
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