La Crescenta March 2015 Real Estate Values: Looking at the average price per square foot and the average selling price can be misleading. One should also look at the median selling price to know how LA Crescenta real estate values are rising. For the first quarter of 2015, the average days on market hover between 48 -52, and the absorption rate has been 2.0 or less – (two months of inventory) an extremely favorable market for La Crescenta home sellers.
La Crescenta March 2015 Real Estate Values Recap:
To stay current on market trends, I analyze MLS data every month. I go beyond the headlines and study the numbers closely. Right now, we’re in a very unbalanced market. In La Crescenta, the absorption rate shows that inventory would run out in less than two months if no new listings came on. That’s a strong seller’s market.
The sales pace, the number of available homes, and the final sale prices all help define market conditions. In hot markets like this, homes sell fast—sometimes in just a few days. Often, they go well over the asking price. In contrast, slower markets see homes sit longer. Sellers may need to drop prices or negotiate more.
For now, La Crescenta buyers must move quickly and come in strong.
A top La Crescenta Realtor can give you insight into the market.
