Time for a little number crunching my little Chitlins. NOT my fav thing to do in the wee hours of a dark Monday morning, but I have been distracted by the process of selling lots of homes and I have fallen behind schedule!
Today we are talking about La Crescenta Homes. Activity is intense up here! I just got through a 9 agent multiple offer battle to get a sa-weeeeet home for my client. This home was priced in the upper $500’s and that is the price range of intense activity.
The chart tells all. Number of La Crescenta homes sold is up and number of listings is way down. Less supply+more demand= multiple offer battles. Interestingly, prices remain more or less steady. How can that be?
The multiple offer process today is very different form the ones of 2005. Back then, agents listed the home “per the comps” and buyers were bidding far above the “comps”. Today, agents are pricing low to attract multiple offers, but the buyers are
- More savvy about recent sales prices due to the internet
- Cautious about paying much above those prices.
|Single Family Homes||July||August||Sept|
|Average Days on Market||73||60||74|
|Average $per Sq.Ft.||$386||$404||$399|
|Median Selling Price||$564,500||$590,750||$580,000|
|Average Selling Price||$608,214||$640,250||$598,581|
|Absorption Rate *||3||2||2|
|Condos and Townhomes|
|Average Days on Market||125||93||101|
|Average $per Sq.Ft.||$273||$280||$282|
|Median Selling Price||$495,000||$450,000||$507,500|
|Average Selling Price||$455,231||$459,714||$492,700|
|Absorption Rate *||1||1||1|
|* The # of months to sell current inventory at present rate of sales|
- La Crescenta – August Home Sales
- Community Spotlight: La Crescenta
- La Crescenta Home Sales Stats Jan-Jun ‘09
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