To be one of the top La Crescenta real estate agents, each month, I analyze the housing numbers. Let’s dive into the La Crescenta Housing market for March 2023. The number of closings continues to decline along with the absorption rate.
The least expensive home sold in La Crescenta was a two-bedroom, two-bathroom, 1,023 square foot home located at 2914 Stevens St. Initially listed for $849,000. It sold in nineteen days for $810,000. The most expensive home sold in La Crescenta was a four-bedroom, three-bathroom, 2,806-square-foot home located at 2346 Rockdell St. This beautiful home was initially listed for $1,649,000. It sold over asking for $1,700,000 in just thirteen days.
Just three La Crescenta homes sold over the asking price. One at the asking price and six less than the asking price. While inventory remains low, now is not the time for aggressive overpricing. If well priced, the market will drive the price up, creating a bidding war.
When dissecting the La Crescenta housing stats for March 2023, examining the price per square foot is always interesting. On the low end was a 1717 square foot home on Community selling for just $483.40. On the high end was a 1286-square-foot home on Paraiso selling for $933.13 per foot. We notice most of the home sales are due to relocation, death, or divorce. Therefore inventory remains low.
The price per square foot does not consider the lot size, property location, floorplan, or flow, or condition. When using the price per square foot to determine value, it is critical to compare like with like.
