I love running the La Crescenta housing statistics each month. It validates what I see when I am on a broker’s tour, open houses, or showing homes. La Crescenta is one of the most difficult real estate markets for Los Angeles home buyers, and the low absorption rate indicates a very, very strong seller’s market.
The least expensive sale was $615,000 for a 745-square-foot home. 3755 5th Avenue sits on a lot of just under 4,000 square feet. The highest-priced sale was 2542 Kemper. This 4,000+ square foot home is on a 22,000+ square foot lot. This six-bedroom, six-bath home sold for $1,475,000.
For the last year I have seen many of the same buyers coming to La Crescenta listings I am holding open. The median selling price indicates that half of La Crescenta listings sell for less than $927,500 and half for more. The typical three-bedroom, two-bath La Crescenta home sells in the 900’s. The average days on the market is just over a month (February with just 13 closings threw that month’s numbers off).
The market is very competitive for home buyers in the Foothills. There are many ways a buyer can increase their odds of success in getting their offer accepted and most of them involve working with an experienced real estate agent.
Learn why bidding wars are so common
Not all buyer’s agents are created equal
