La Crescenta Real Estate Values April 2015: La Crescenta is in the middle of an extremely hot seller’s market. Homes are selling fast, inventory is tight, and buyers face stiff competition. I often discuss real estate values, average prices, and absorption rates. These numbers tell the story. The absorption rate measures how long it would take to sell all current listings at the current sales pace. It’s expressed in months.
In general, a 5–7 month supply indicates a balanced market. More than 7 months favor buyers, and less than 4 months means sellers have the upper hand. Right now, La Crescenta’s supply is just 1.5 months, which puts buyers at a clear disadvantage. As demand rises and inventory shrinks, prices naturally increase. Nationally, home prices climbed 5% from February 2014 to February 2015. La Crescenta has seen even stronger growth. In short, sellers hold the power. Buyers need to act quickly and come prepared. Meanwhile, homeowners thinking about selling may want to seize this opportunity. Timing couldn’t be better.
La Crescenta Real Estate Values April 2015 Recap:
Real estate values are rising as a result of tight inventory and high demand.
