Enjoy a complimentary La Crescenta Real Estate Market Update for February 2018
This Month in Real Estate:
February saw a slightly lower inventory of homes while there was a substantial increase in home values in the La Crescenta real estate market this month. The market had a total of 17 units sold at a median price of $965,000. That compared to the sales price one year ago showed an increase in values of 7.5%. These prices went up 22.2% in median price from the previous month. The average sale price landed at 103% of original list prices which suggests home’s are being priced correctly and selling for over asking. Compared to last month, this shows that home values saw an overall increase.
The average days to sell time on the market increased to an average of 33 days. The most important indicator for determining which type of market we are in currently is the average time it takes for the entire inventory supply of homes to sell. Anything below 4 months indicates a seller’s market, between 4-6 months is a balanced market, and over 6 months is a buyer’s market. Currently, we are still in a strong seller’s market. However, with rates going up we may see a shift to a more stable and balanced real estate market in the coming months.
Other City’s Average Median Home Values:
- In Los Angeles: $735,000
- In Mount Washington: $841,000
- In Eagle Rock: $1,058,000
- In Glendale: $775,000
- In Burbank: $761,000
- In Pasadena: $760,000
- In Studio City: $1,160,000
We hope you found this real estate market update for February 2018 helpful. Each month you will be provided with monthly real estate updates on the market. If you would like a more comprehensive free no obligation market evaluation text or call me at (818) 389-4465 today.