Let’s crunch the numbers for the La Crescenta Housing Market, March 2022: Last month, 24 homes sold in La Crescenta, reflecting steady market activity in the area. Of those 24 sales, a remarkable 17 homes sold for over the asking price. This suggests strong demand and competitive bidding among buyers. An additional five homes sold right at the asking price, while only two closed below asking. Notably, none of the homes on the market had any price reductions, indicating that sellers are pricing their homes confidently—and buyers are willing to meet or exceed those expectations.
The average price per square foot across all sales was $801.10. However, prices varied significantly depending on each home’s size, condition, and location. On the lower end, 4530 Orin Ave., a four-bedroom, three-bath home, sold for $509.68 per square foot. On the higher end, 3650 1st Ave., a smaller two-bedroom, one-bath home, sold for $1,160.54 per square foot. This wide range reflects the diversity of housing in La Crescenta and how individual property features impact value.
Overall, the data points to a healthy, competitive market where well-presented homes are in high demand.
The least expensive home sold was a three-bedroom, two-bathroom, 1,161-square-foot home located at 3248 Washington Pl. It was listed for $899,000 and sold for $885,000. This was one of the two sales under the asking price. The most expensive luxury home sale was a four-bedroom, three-bathroom, 2,868 square foot home located at 5115 New York Ave. It was listed for $1,800,000 and sold for $2,100,000.
The absorption rate of less than 1% indicates an extremely strong seller’s market. I have been to La Crescenta open houses the last two weekends and they are packed.
