Sparr Heights, Montecito Park, Montrose and Oakmont
Not much is happening in this area. There a couple of reasons: this is one of the most stable areas in Glendale and Above the 134 and it isn’t a very big area. But the schools make it a destination area, so, here are your numbers.
The two that are in escrow are a short sale and a foreclosure. The one that sold went to a well known (and talented!) remodeler and I am very excited to see what he does with it.
| Single Family Homes | Jan | Feb |
| New Listings | 0 | 2 |
| Total Listings | 3 | 5 |
| Sales Pending | 0 | 2 |
| Homes Sold | 0 | 1 |
| Expired Listings | 0 | 2 |
| Average Days on Market | 0 | 0 |
| Average $per Sq.Ft. | $0 | $0 |
| Median Selling Price | $0 | $0 |
| Average Selling Price | $0 | $0 |
| Absorption Rate * | 2 | 3 |
| Condos and Townhomes | ||
| New Listings | 1 | 0 |
| Total Listings | 2 | 2 |
| Sales Pending | 0 | 0 |
| Homes Sold | 0 | 0 |
| Expired Listings | 2 | 0 |
| Average Days on Market | 0 | 0 |
| Average $per Sq.Ft. | $0 | $0 |
| Median Selling Price | $0 | $0 |
| Average Selling Price | $0 | $0 |
| Absorption Rate * | n/a | n/a |
| * The # of months to sell current inventory at present rate of sales |
La Crescenta
MUCH bigger area, so much more to report. Almost every number on this chart is good news (for home owners) and very exciting. Listings are down, sales are up, days on market is down and prices are up, woo-hoo! Why, do you ask? December saw an inordinate number of low priced short sales and foreclosures. It was positively stupid in this area and many of these homes got multiple offers and bid way up.
But, do you see the huge drop in sold homes in February? This reflects the homes that entered into escrow in January showing you that the rash of stupid low list prices is over in La Crescenta. At least for now. The really good news is that people are buying without the low (and unrealistic) list prices.
| Single Family Homes | Jan | Feb | |
| New Listings | 22 | 18 | |
| Total Listings | 67 | 58 | |
| Sales Pending | 19 | 21 | |
| Homes Sold | 17 | 7 | |
| Expired Listings | 9 | ||
| Average Days on Market | 70 | 56 | |
| Average $per Sq.Ft. | $352 | $371 | |
| Median Selling Price | $505,000 | $634,000 | |
| Average Selling Price | $534,184 | $636,714 | |
| Absorption Rate * | 2 | 3 | |
| Condos and Townhomes | |||
| New Listings | 10 | 7 | |
| Total Listings | 24 | 31 | |
| Sales Pending | 5 | 8 | |
| Homes Sold | 3 | 1 | |
| Expired Listings | 0 | 1 | |
| Average Days on Market | 97 | 26 | |
| Average $per Sq.Ft. | $273 | $290.87 | |
| Median Selling Price | $510,000 | $500,000 | |
| Average Selling Price | $478,333 | $500,000 | |
| Absorption Rate * | 4 | 5 | |
| * The # of months to sell current inventory at present rate of sales | |||
Condos and Townhouses, however, do not share this good news. Again, at least not for home sellers. There maybe a fantastic opportunity for the buyers, however.
Kendyl Young
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