Last month the most expensive home sold in La Crescenta was 5115 New York Ave. This luxury home was originally listed for $1,800,000 and sold in just nine days over asking at $2,100,000. The sellers purchased this home in 2014 for $888,000 which was $38,000 over asking price at that time. This rampant appreciation/inflation is simply insane. Are there signs the market is cooling? Higher interest rate may keep prices from increasing at this pace. But at this time I don’t feel a correction in the La Crescenta real estate market.
MLS Remarks for 5115 New York Ave., La Crescenta read:
Located in the highly desirable city of La Crescenta, this 4 bedroom, 3 bathroom home welcomes you home. This open floor plan allows for the mingling of family and friends and celebrations. Double doors from the great room open onto the entertainers’ backyard complete with a custom pool, spa, firepit and outdoor kitchen that lend to year-round entertaining, creating lasting memories. Relax and refuel in the main bedroom suite, complete with a walk-in closet, 2 additional oversized closets, and a full luxurious bathroom. Just outside Double doors of this suite, lead outside to a patio, providing a serene place to enjoy your morning coffee.
La Crescenta Real Estate
So many first time buyers need a correction in the market as the interest rates have pushed many to the sidelines if they weren’t already there