Let’s dissect the La Crescenta Housing Market in October 2020. The least expensive home sold was 2906 Hermosa Ave. A three-bedroom, two-bathroom, 1260 square foot home originally listed for $749,000. And sold in twenty-six days for $730,000. The most expensive sale was a five-bedroom, four-bathroom, 3,526-square-foot home located at 3834 Sky View Lane. It sold for $1,780,000 which was $81,000 over the asking price.
Twenty homes closed escrow. The pandemic obliterates traditional home-buying seasons. Winter, spring, summer, or fall—buyers shop year-round. COVID-19 drives 40% of Americans to plan home purchases within six to twelve months. Most seek more space. Remote work demands extra bedrooms or offices. Families crave outdoor areas for kids. Yet, the sizzling housing market sparks concern. Rising prices threaten buyers’ plans. Kimberly Lanham, vice president at Mphasis Digital Risk, explains the shift. Her firm’s survey of 1,113 people reveals clear trends. “People reject cramped, urban living,” she notes. Instead, they prioritize natural spaces. Buyers want yards for walks or play. Suburban and rural areas gain appeal.
Meanwhile, low inventory fuels competition. Bidding wars push prices higher. Mortgage rates, still near historic lows, entice buyers. However, economic uncertainty looms. Job losses worry some. Supply chain issues delay new construction. Still, demand surges. Families value Pasadena’s spacious homes and top schools. Others eye quieter towns with larger lots. Consequently, sellers hold the upper hand. Homes sell fast, often above asking price. Buyers act swiftly to secure properties. The market shows no signs of cooling.
Nearly two-thirds of respondents want a spare bedroom, while 63% cite a deck or patio and 56% cite an office as top amenities in a new home. Additionally, 45% want additional space for their children, while a third want to leave more densely populated areas. About 3 in 10 prefer more room to accommodate extended family. Read the rest here:
If we were to move our motivation would be to leave our two story behind and find a nice one story home. I am tired of climbing stairs and fear that as we age it could become an issue