As a La Crescenta real estate expert, it’s important that I analyze the monthly housing numbers. Let’s dive into the La Crescenta Real Estate Update for April 2022:
The number of sales is up for the year. Average selling price to list price is the highest for the year. Typically buyers get even more aggressive as interest rates begin to climb. Buyers become fearful of the rising rates and want to purchase before interest rates climb even further.
The least expensive sale was a two bedroom, one bathroom, 828 square foot home located at 4217 Boston Ave. It sold for $935,000, while originally listed at $775,000.
One of the most expensive sales was a four bedroom, four bathroom, 2,585 square foot home located at 5601 Canyonside Rd. While originally listed for $1,699,000, it sold for $1,950,000 .
It will be interesting to see if inflation starts to cool this real estate market. I believe it will. It seems for the last several years, a lot of people have made oodles of money and it was almost like monopoly money – not real.