La Crescenta Housing Market Update March 2019: Last month, seventeen La Crescenta homes (91214 zip) closed escrow. Prices ranged from a three-bedroom, three-bathroom, 1,344 sq ft home on Oakendale Place sold for $850,000 and a four-bedroom, four-bathroom, 3,767 sq ft home at 3831 Sky View Lane sold for $1,230,000.
La Crescenta Housing Market Update March 2019 Recap
Nine of these homes sold for more than their asking price, reflecting strong buyer demand. Just one La Crescenta sale required a price reduction before closing, highlighting the market’s resilience. Seven properties sold for less than their original listing prices, indicating some negotiation opportunities for buyers. Homes spent the fewest days on the market so far this year, underscoring the brisk pace of sales. Both the average selling price and the median price reached their highest points year to date, signaling robust property values.
The absorption rate dropped to just over one month’s supply, marking the lowest level this year. This limited inventory creates a competitive environment for buyers. Sellers continue to benefit from quick turnarounds and strong offers. Multiple offers have become common, especially for well-priced homes in desirable neighborhoods. Buyers are moving swiftly, often waiving contingencies to secure their dream properties.
The low days on market and rising prices suggest confidence in the La Crescenta area. With limited housing supply, motivated buyers are stepping up to meet seller expectations. This market dynamic is expected to continue as demand remains steady and inventory tight. For those considering selling, now is an ideal time to take advantage of these favorable conditions.
From Core Logic: “Homeownership remains an important part of the American dream. Our research found that being a homeowner makes consumers feel safe in their homes. Renters really want something to call their own. However, until affordability returns, renters will have difficulty purchasing a home.”
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325.
