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La Crescenta Real Estate February 2024

To remain a top La Crescenta real estate agent, I crunch the monthly housing numbers for the 91214 zip code. In February 2024, nine La Crescenta homes were sold. Six homes sold over their asking price—one at the asking price and two less than the asking price. A three-bedroom house with one bath at 4422 New York Ave. sold for $562.04 per foot. A one-bedroom at 3732 2nd Ave. sold for $1,090.30 per foot—five of the sales sold in 15 days or less.

The least expensive home sold was a one-bedroom, one-bathroom, 598-square-foot home located at 3732 2nd Ave. Initially listed for $650,000, it sold in fifty days for $652.000. The most expensive home sold was a three-bedroom, two-bathroom, 2,281-square-foot home at 4704 Briggs Ave. Initially listed for $1,798,000, it sold in only three days for $1,820,000.

Four homes sold for less than one million.  While the absorption rate continues to reflect a very strong seller’s market, it bumped up a bit from January. Days on the market continue to hover around a month.

La Crescenta Real Estate Market February 2024

As is the norm, the price per square foot varied greatly. On the high end, the home noted above on 2nd Ave. sold for $1,090.30 per foot. On the low end, a 1628-square-foot home sold for $562.04 per foot.

According to Core Logic, Home prices surged in January, reaching a year-high, but are expected to slow to 2.6% by early 2025. Rising mortgage rates and low inventory worsen affordability, impacting lower-wage areas. Despite challenges, millennials dominate home purchase applications, accounting for over half from 2020 to 2023. Conversely, financially secure baby boomers can buy homes outright, compounding challenges for other buyers.

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