La Crescenta Home Values
La Crescenta Values March 2017: La Crescenta home values continue to rise. Average days on the market dwindle because some listings sell before going into the multiple listing service, equating to zero days on the market. The 1.14% absorption rate reflects an unbalanced market. If there were no new listings, the inventory would be depleted in just over one month. It will be a difficult spring for La Crescenta home buyers and a great one for sellers. Average sales price and median price are the highest year to date. The selling price to list is also the highest year to date.
La Crescenta home values
La Crescenta Values March 2017 Recap:
Average days on the market continue to dwindle. Some listings sell even before entering the multiple listing service, resulting in zero days on the market. Consequently, the absorption rate sits at just 1.14%, indicating an unbalanced market. If no new listings were added, the current inventory would be gone in just over a month. Therefore, this spring is shaping up to be challenging for La Crescenta home buyers yet highly favorable for sellers. Notably, the average and median sales prices are at their highest levels year to date. Similarly, the selling price to list price ratio has also peaked this year.
The $8,000 federal tax credit, which expired in June 2010, played a major role in the real estate landscape. At the time, it triggered a buying frenzy among first-time home buyers. However, once the tax credit ended, La Crescenta real estate values dropped sharply in 2011 compared to 2010. As a result, the market shifted, reflecting the impact of that incentive’s removal.
