La Crescenta Montrose Market at a Glance for the month of July.Don’t miss the comparison of the July sales data compared to the June data. A few good insights to the la Crescenta Montrose real estate market.
Number of homes for sale: 26
Median list price: $1,274,500
Average price per square foot: $817
Number of homes sold: 21
Median sale price: $1,450,000
Average days on the market: 14
Comparison of July and June Stats:
In July, the La Crescenta Montrose real estate market experienced a slight increase in inventory, with 26 homes available for sale compared to 17 in June. However, this increase in supply did not deter buyers, as the median list price rose from $1,246,500 in June to $1,274,500 in July. The average price per square foot also saw a notable uptick from $787 to $817. Despite the higher prices, the market remained competitive, with homes selling faster in July than in the previous month. The average days on the market decreased from 27 in June to just 14 in July.
Furthermore, the number of closed sales decreased slightly from 23 in June to 21 in July. However, this dip was accompanied by a substantial increase in the median sale price, which jumped from $1,198,000 in June to $1,450,000 in July. This significant rise in the median sale price indicates a strong demand for single-family homes in the area and may reflect buyers’ willingness to pay a premium for desirable properties.
Overall, the La Crescenta Montrose real estate market exhibited positive signs of growth and competitiveness in July. With higher median list prices, increased average price per square foot, and homes selling at a faster pace, sellers seemed to have the upper hand in the market. Conversely, buyers appeared eager to secure their dream homes despite the higher prices, leading to fewer days on the market for the properties that did sell. The market’s performance in July suggests a robust and thriving real estate environment, which could continue to be influenced by factors such as interest rates, local economic conditions, and overall housing demand in the coming months.