- Image via Wikipedia
The state of our local real estate market is really pronounced here, in La Crescenta. Listing inventory is waaaaay down and the number of homes entering escrow is brisk.
Look at the Sales Pending numbers- see how that number keeps rising? This is becasue short sale transactions are so common in La Crescenta. A short sale escrow can last 2, 3 or even 4 months. And, at the end of it all, there is an even chance it won’t close escrow at all.
| Single Family Homes | March | April | May |
| New Listings | 21 | 21 | 13 |
| Total Listings | 64 | 59 | 36 |
| Sales Pending | 19 | 29 | 32 |
| Homes Sold | 19 | 12 | 12 |
| Expired Listings | 11 | 9 | 5 |
| Average Days on Market | 103 | 52 | 132 |
| Average $per Sq.Ft. | $374 | $322 | $363 |
| Median Selling Price | $679,000 | $537,500 | $677,500 |
| Average Selling Price | $634,921 | $559,083 | $709,813 |
| Absorption Rate * | 3 | 3 | 3 |
| Condos and Townhomes | |||
| New Listings | 4 | 2 | 2 |
| Total Listings | 28 | 13 | 8 |
| Sales Pending | 13 | 6 | 4 |
| Homes Sold | 3 | 0 | 2 |
| Expired Listings | 2 | 4 | 2 |
| Average Days on Market | 107 | n/a | 158 |
| Average $per Sq.Ft. | $262 | n/a | $300 |
| Median Selling Price | $429,000 | n/a | $310,000 |
| Average Selling Price | $433,000 | n/a | $310,000 |
| Absorption Rate * | 6 | 4 | 4 |
| * The # of months to sell current inventory at present rate of sales | |||
Here’s a list of available homes in La Crescenta.
Kendyl Young
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