Here is our in-depth overview of the La Crescenta Housing Market for July 2022.
Twenty-five homes were sold last month, July 2022, and thirty-one homes sold in July 2021. The absorption rate is slowly increasing. The least expensive La Crescenta home sale was a two-bedroom, one-bathroom, 997-square-foot home located at 2909 Fairway Ave. Initially listed for $700,000, it sold for $730,000. The most expensive home sale was a three-bedroom, two-bathroom, 1,756-square-foot home located at 2938 Highridge Road. Initially listed for $1,749,000, it sold in nine days for $1,950,000.
The Highridge home noted above that the price per square foot ranged from a low of $561.40 for a five-bedroom, three-bath 2948-square-foot home to the highest price per square foot home sale.
The La Crescenta absorption rate of just over one month of inventory shows a very strong seller’s market. With so few homes available, properties are selling quickly. Buyers face stiff competition, which benefits sellers. Homes are moving off the market fast, often with multiple offers. This low inventory means that sellers can ask for higher prices. Buyers must act quickly and may need to offer more to secure a home. In short, it’s a great time for sellers, while buyers must be strategic.
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