La Crescenta Housing Market Update: Last month 27 La Crescenta homes closed escrow. More than half of these homes sold for over the asking price. A one-bedroom, one-bathroom home on 3rd Ave. sold for $460,000, and a 4-bedroom, 3-bathroom home on Orange Ave. sold for $1,575,000. Click here to learn more about event pricing and how it appeals to the herd mentality.
It’s an extremely competitive market for La Crescenta home buyers. The absorption rate of just over 1% indicates a very unbalanced market heavily favoring the seller.
Median Price vs. Average Price, which is the most telling? The median selling price is the better indicator of value. The median selling price last month was $832,500. Half of the homes sold for more and half sold for less. The median selling price is not influenced by an abnormally high or low selling price.
