Let’s take a look at the La Crescenta housing market for June 2020:
Last month the least expensive home sold was a two bedroom, one bathroom, 923 square foot home located at 3742 5th Avenue which sold for $641,680. The most expensive home was a five bedroom, three bathroom, 3,744 square foot home located at 2329 Panorama Dr.
The La Crescenta real estate market is heavily favored for home sellers as evidenced by the low absorption rate. What is significant when looking at June 2020 versus 2019 is the decrease in the number of homes sold. There is not a lot of inventory – supply is not meeting demand.
Of last month’s seventeen home sales, seven sold over asking price. Nine homes sold less than asking and one at asking price. Are La Crescenta prices flattening? Or are sellers and their real estate agents simply pricing too high?
With the new California Association of Realtors rules on Coming Soon Marketing, I am unclear if it is a violation for me to discuss a new La Crescenta listing I will have coming on the market in September. According to the “rules” I need to announce the date the home will be on the market. But as my client is moving to another home and may possibly do some work on that home, I really can’t pin point an exact date – so sometime in September. This is a great home but the best aspect is the back yard. Stay tuned!