Let’s dive into the La Crescenta housing market for June 2022:
Twenty-nine homes sold last month, which shows that buyer activity remains strong. Although more listings are hitting the market, inventory is still too low to meet demand. Buyers continue to face limited choices, which means competition remains high.
However, mortgage rates have recently spiked. Because of this, some buyers may pull back or take more time to decide. I expect the absorption rate to rise next month. Homes may stay on the market longer. This could be the first sign of a slight market shift.
The average sales price jumped due to selling a $3,580,000 home located at 2826 Alta Terrace. This five-bedroom five-bath, 4,554, 4,554-square-foot home sale skewed the numbers. The least expensive home sold was a three-bedroom, two-bathroom, 1,077 sq ft home located at 3233 Washington Place, selling for $900,000 originally listed at $829,000.
We are busy preparing a three-bedroom, two-bath La Crescenta home for sale. It had been tenant-occupied with some deferred maintenance. We are installing luxury vinyl plank and ripping out the laminate, a new roof, and fresh paint. I hope to have it on the market at the beginning of August.
Related Post: Highest Priced La Crescenta Home Sale in June 2022
