La Crescenta November 2015 Real Estate Sales: It’s no surprise to La Crescenta home buyers that inventory has been tight all year—two or fewer months’ supply, which reflects a very unbalanced seller’s market.
Looking at our chart, you can see that the La Crescenta real estate market is fueled by the school calendar. The bulk of La Crescenta’s closings are from May through August. Note that the average home sells/closes in less than 50 days, which reflects that the La Crescenta real estate sales start jumping in March.
What Is a Seller’s Market? A seller’s market occurs when there are more buyers than homes for sale, creating competition. Homes sell quickly, often with multiple offers. Sellers usually get higher prices and better terms. But even in a strong market, prepping the home and pricing it right is key. That’s how you attract solid offers and close smoothly.
How Can You Tell Which Market You’re In? You can tell by how fast homes sell, how many are on the market, and how close sale prices are to asking prices. In a hot market, homes move fast and often sell above list price. In a slower market, homes sit longer and prices are more negotiable. A top La Crescenta Realtor can help you read these trends and understand what they mean for your plans.
While more than 85% of markets have burdensome rents today, it’s perplexing that it is cheaper to buy than rent a home in more than 75% of the counties across the country. Obtaining a down payment is the roadblock to many would-be home buyers. Read more here:
