La Crescenta Home Values December 2017: La Crescenta home values remained strong in December 2017. However, the market proved challenging for buyers, and the low absorption rate reflected this difficulty. Throughout the year, the highest absorption rate reached just 2%. Last month, it dipped even lower to less than 1%. If no new listings appeared, La Crescenta would run out of inventory in less than a month. Demand far outpaced supply.
Despite the tight market, homes continued to sell. Half of the properties sold for under $832,500, while the other half sold for more. This median selling price highlighted the area’s steady value. Last year, I successfully found homes for three La Crescenta buyers. Each of them paid well over the asking price. Moreover, they allowed the sellers to rent back the properties. This flexibility helped them secure their purchases in a highly competitive market.
Home values in La Crescenta showcased a broad range. At the lower end, a 915-square-foot home sold for $680,000. On the higher end, a 4,100-square-foot home on Quail Canyon fetched $1,525,000. These numbers reflect the variety of options available, even in a tight market. Buyers needed to act quickly and often compete aggressively, but the investment paid off.
it will be very interesting to watch the real estate market in 2018 to see if the new tax laws make any difference in housing enthusiasm in california