Main Content

Home » La Crescenta Real Estate Update April 2022

La Crescenta Real Estate Update April 2022

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 .

La Crescenta Real Estate Update April 2022

We have seen a rare rally this month. The 10-year went all the way up to 3.20%, and then traveled back to 2.81. Stabilizing at 2.85%.  Risk assets had a rough week, specifically U.S. Stocks and crypto assets, which had a risk off sentiment as those assets sold off and bonds rallied as investors flew to safer assets. With the sell-off in U.S. equities this week, along with the Fed raising rates and giving forward guidance they will continue to raise rates, it appears financial conditions are tightening.
 
The question is when will they be tight enough to rein in inflation. Will the Fed be able to achieve a soft landing? Best to be defensive here, as there is still little conviction in the markets and it wouldn’t be surprising if we tested the 2018 highs on the 10-year at 3.26%.

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.

Leave a Reply

Your email address will not be published.