Let’s dive into the La Crescenta Real Estate Update for July 2024. Twenty-three homes closed escrow last month. Twelve of these homes sold over the asking price, five for the asking price, and six below asking. A four-bedroom, three-bathroom home at 2303 Janet Lee Dr. sold for $657.04 per foot. This was also the highest-priced sale for the month, selling at the list price of $2,299,000. A one-bedroom, one-bathroom, 432-square-foot home at 3213 Mills Ave. sold for $1,273.15 per foot, which, interestingly enough, was the least expensive home sold; only one sold over $2,000,000.
The absorption rate remains unbelievably low. In fact, we connected with a Los Feliz agent who has been trying to find a $2,000,000 La Crescenta home for a client for over a year.
From Corelogic: Small starter homes more frequently experience appraisal gaps. An appraisal gap happens when a house’s appraised value is less than the agreed-upon sales price. In June 2024, 8.6% of all home sales in the closing process had appraisals below the contract sales price, an improvement from 10.7% a year ago. Among small starter homes, 9.6% had appraisals below the pre-closing contract sale price, down from 12.1% a year ago. Larger, more expensive homes had a 7.1% appraisal gap rate, which is slightly higher than last year. On average, starter homes are 3-5% more likely than larger homes to have an appraisal gap, indicating a higher risk of overpayment by inexperienced first-time homebuyers.
La Crescenta Luxury Home Sales
La Crescenta Feb Luxury Real Estate Values
La Crescenta Home Sales
La Crescenta Home Sales
La Crescenta Home Sales 91214
La Crescenta Home Sales January 2020
La Crescenta Home Sales
La Crescenta Home Values
La Crescenta Home Values
La Crescenta Home Values
La Crescenta Home Values
La Crescenta Home Values: Average Price per Square Foot
La Crescenta Home Values December 2017
La Crescenta Home Values October 2017
La Crescenta Home Values Up 17% Since January
La Crescenta Homes Sold for $1,000,000 or More
La Crescenta Housing January 2020
La Crescenta Housing Market April 2020
La Crescenta Housing Market August 2020
La Crescenta Housing Market December 2020
La Crescenta Housing Market July 2020
La Crescenta Housing Market June 2020
La Crescenta Housing Market March 2021
La Crescenta Housing Market May 2020
La Crescenta Housing Market May 2021
La Crescenta Housing Market November 2020
La Crescenta Housing Market September 2020
La Crescenta Housing Market – September 2021
La Crescenta Housing Market Stats June 2021
La Crescenta Housing Market Stats Update August 2018
The sale of a 432 square foot home caught my eye. That is so incredibly small! Even for one person. But I guess it’s common in New York so why not here too. Not for me though. I actually enjoy smaller homes (less to clean and keep up) but I think 432 is too small