La Crescenta Market at a Glance

Dear readers, today we delve into the ever-evolving real estate market in La Crescenta, California, providing you with a comprehensive analysis of the last 30 days of activity, comparing November 2, 2023, to the preceding month of October 2, 2023. La Crescenta Market at a Glance – November 2023 vs. October 2023. I’m Robbyn Battles, your trusted real estate professional in the Foothills area, and I’m here to break down the data, offering insights and context to help you understand the current real estate landscape in our community.

Let’s start with the stats for November 2, 2023:

• Homes on the market: 20
• Median list price: $1,189,000
• Average price per square foot: $849
• Homes sold in the past 30 days: 12
• Median sales price: $1,289,000
• Average market time: 24 days

Now, let’s compare this to the data for the 30 days ending October 2, 2023:

• Homes on the market: 15
• Median list price: $1,399,000
• Average price per square foot: $848
• Homes sold in the past 30 days: 20
• Median sales price: $1,310,000
• Average market time: 13 days

Let’s break down each stat and provide a brief analysis:

1. Homes on the Market: We’ve seen an increase in the number of homes available for sale, indicating more options for buyers.
2. Median List Price: The median list price has decreased slightly from $1,399,000 to $1,189,000. This might attract buyers looking for more affordable options.
3. Average Price Per Square Foot: This statistic has remained relatively stable, with a small increase from $848 to $849 per square foot.
4. Homes Sold: The number of homes sold decreased from 20 to 12, possibly due to a slightly longer average market time.
5. Median Sales Price: Despite the decreased number of homes sold, the median sales price remained strong at $1,289,000.
6. Average Market Time: Market time increased from 13 to 24 days, indicating a slight shift towards a more balanced market.

Now, let’s summarize the two 30-day periods:

In November, we’ve observed a higher inventory of homes and a decrease in the median list price, offering more choices for potential buyers. While the number of closed sales and the average market time increased, the median sales price remained robust. This suggests that La Crescenta’s real estate market continues to be competitive, with a balanced mix of offerings for both buyers and sellers.

But why are market time and median prices important for homeowners and homebuyers? Market time helps sellers gauge how quickly their home might sell, while buyers can use it to assess the pace of the market. Median prices provide a reliable indicator of the overall market health and the value of properties in the area.

Now, you might wonder about the significance of the average list price per square foot. This metric is essential because it offers a standardized way to compare properties of different sizes and configurations. It allows buyers and sellers to make informed decisions about the value of a home in relation to its size and features.

If you’re looking for more detailed market information or considering buying or selling a home in La Crescenta, don’t hesitate to contact me, Robbyn Battles, at 818-388-1631 or via email at Robbyn@TheHouseAgent.com. I’m here to provide you with personalized insights and guide you through the dynamic real estate market in our beautiful community.

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