Let’s explore the La Crescenta housing market for January 2021 in zip code 91214. The market showed steady activity last month, with seventeen homes closing during this period.
Nine of these homes sold above the asking price. Buyers competed for well-priced properties, driving up final sale amounts. Meanwhile, three homes matched their asking price. Sellers achieved their targets without negotiation. Four homes sold for less than the asking price. These properties faced less competition or required updates. Additionally, three homes went through price reductions before selling. Adjustments helped align expectations with market demand.
The least expensive sale stood out. It was a cozy two-bedroom, one-bath home. The property measured 912 square feet and sat on Montrose Avenue. It sold for $665,000, reflecting the area’s strong demand. The most expensive home sold was a four-bedroom, three-bathroom, 3,087 square foot home at 2504 Fairmont Avenue which sold for the asking price $1,695,000. This luxury La Crescenta home sold in just twenty-three days.
La Crescenta Housing Market January 2021 Recap:
The absorption rate remains low. This trend is typical for the beginning of the year. Most sellers take time to recover from the holiday season. They often delay listing their homes until they feel ready. First, they focus on getting back to routine. Then, they begin preparations for the market. This includes repairs, staging, and organizing. As a result, new listings tend to appear slowly in the early months.
Consequently, inventory remains tight, and buyers have fewer options. Demand may still be strong, but choices are limited. As spring approaches, activity typically picks up. Sellers feel more confident, and more properties hit the market.
What a difference a year makes!
Looks like the market is even hotter now! I guess covid doesn’t matter with interest rates so low