La Crescenta Housing Update December 2019: Last month nineteen La Crescenta homes (91214 zip) sold. The lowest-priced sale was a two-bedroom, one-bathroom, 880 sq ft home on Prospect Ave. It sold for $525,000. The highest La Crescenta home sale was a remodeled five-bedroom, four-bathroom, 3,522 square foot home at 5040 Rosemont Ave. selling for $1,560,000. Six La Crescenta homes sold for over $1,000,000.
Thirteen of these October sales sold over the asking price, which is more than half of last month’s sales. Only two of these La Crescenta listings had a price reduction before selling. Six homes sold for less than the original asking price. The graph below reflects the La Crescenta Housing Update December 2019:
La Crescenta Housing Update December 2019 Recap:
Around the holidays, housing inventory typically dries up. This year is no exception. The absorption rate in La Crescenta has plummeted to just 0.42%. This marks an all-time low for 2019. Homes are selling faster than new listings appear. Buyers are left scrambling for limited options.
The La Crescenta housing market is heavily tilted in favor of home sellers. Demand far outweighs supply, creating fierce competition among buyers. Multiple offers are common, and bidding wars often drive prices higher. Sellers hold the advantage, setting terms and commanding strong offers.
For homeowners in La Crescenta, the current market is ideal for selling. Inventory remains scarce, and motivated buyers are ready to act. If you’ve been considering selling, now is the perfect time to maximize your return.
