La Crescenta August 2015 Home Values. Even with rising home prices, many homeowners who have considered selling are deciding not to because they are caught in an affordability squeeze that is compounded by a lack of inventory. 35% of homeowners have considered selling their home in the past year, and of that share, 64% are reluctant to sell because they are finding they can’t afford the home they want.
The average La Crescenta home sells in a month and a half, and the absorption rate of 1.35% is crazy low.
La Crescenta August 2015 Home Values Recap
In July 2015, Southland home sales soared to a nine-year peak, marking the highest sales volume since 2006. This surge reflects strong buyer demand across Los Angeles, Riverside, San Diego, Ventura, San Bernardino, and Orange counties, driven by favorable economic conditions and renewed confidence in the housing market.
However, cash transactions dropped to 22% of total sales in July 2015, down from a peak of 36.9% in February 2013. Previously, cash purchases dominated due to investors and wealthy buyers capitalizing on lower-priced foreclosures. As inventory rose and foreclosure sales declined. Fewer buyers relied on cash, reflecting a market less driven by speculative investment and more by traditional financing. Consequently, this shift supports a healthier, more sustainable housing market, with first-time buyers gradually returning, accounting for 29% of sales by June 2024
If you are thinking of getting your home on the market, this may be a great time – call me and let’s chat!
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