La Crescenta continues to be the hottest area in the Foothills. Great for home sellers, tough for home buyers. There is practically zero inventory for the buyers… but prices are staying relatively stable. How is this happening?
We are at 1.6 months worth of inventory in September, a near laughably low inventory. that being said, new contracts feel as steeply as everywhere else in the Foothills, so sellers still need to go into the 4th quarter with some caution.
Prices, though, are staying pretty firm:
This is due to a steep run up in price in the spring- up over 14% from February average price per square foot. Our wages and consumer confidence can’t sustain any further price gains right now…. so if a home is overpriced, it sits, small inventory/strong demand not withstanding.
If you are a buyer, however, do not despair!!!
The condo/townhouse market has strong supply right now! In fact, why not take a look at the best townhouse on the market right now? 2721PiedmontAve.com is in Montrose with on the sidewalk front entrance and attached direct access 2 car garage for only $469,000. Click the link for stunning photos and 3d Scan!
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