La Crescenta Housing Market Update September 2018: Twenty-four La Crescenta homes closed escrow last month. A three-bedroom, one-bathroom, 1,128 sq ft home on Encinal Ave. sold for $600,000, and a five-bedroom, seven-bathroom, 6,925 sq ft home on Briggs Ave. sold for $2,350,000.
Fourteen of these homes sold for over the asking price. Click here to learn more about event pricing and how it appeals to the herd mentality.
La Crescenta Housing Market Update September 2018 Recap:
In La Crescenta, a low absorption rate signals a robust seller’s market. Competition fiercely drives the market, especially for homes priced below $1,000,000. Which metric reveals more: median price or average price? The median selling price clearly stands as the superior indicator of value. Last month, La Crescenta’s median selling price reached $837,625. Half the homes sold above this mark, and half sold below. Unlike the average, the median resists distortion from unusually high or low sales.
Now sparks the perfect moment to move up! Core Logic’s June Home Price Index highlights four housing tiers. The lowest-priced tier surged nearly 10% year over year. Next, the low-to-middle tier climbed 8%. Then, the middle-to-moderate tier rose 7%. Finally, the high-price tier grew 5.7%. These nationwide trends mirror the dynamic Los Angeles housing market. With prices climbing faster in lower tiers, buyers can leverage equity to upgrade to dream homes in La Crescenta’s thriving market. Act swiftly to seize this opportunity!
Interested in knowing more about La Crescenta real estate? Give me a call @ 818 790-7325.
