La Crescenta December 2014 Real Estate Sales: Real estate values in La Crescenta continue to increase. Although fewer homes sold last month (December 2014), the average price per ft. has increased, as has the average selling price. It is taking longer to sell and/close escrows, but some of that can be attributed to lenders taking longer to approve loans.
La Crescenta December 2014 Real Estate Sales Recap:
The market is sending mixed signals. Fewer homes are selling, yet they are taking longer to sell. In fact, the number of days on the market has increased sharply. At the same time, the average selling price has dropped compared to the list price. This shows that fewer homes are receiving multiple offers or selling over asking.
As a result, pricing strategy is more critical than ever. Sellers can no longer rely on automatic overbids. Instead, they need to price their home just slightly below market value. This approach creates urgency and attracts more interest. With more attention, multiple offers become more likely. That competition can drive the price higher. This remains the best way to sell for the highest possible price in today’s market. Its certainly better for sellers to negotiate up rather than down.
