Let’s compare La Crescenta real estate statistics for the past 90 days in 2022 and 2023:(Date range 4/22-7/22 & 4/23- 7/23.) The most significant change when comparing 2022 vs. 2023 was the number of closed sales, down 38.61%. If you like numbers, then you are really going to enjoy this.
2022:
Total closed sales: 101
Median price: $1,315,000
Average market time: 19 days
Average price per square foot: $836
Number of sales over $2,000,000: 7 homes
Average percentage over list price: 8.81%
2023:
Total closed sales: 62
Median price: $1,250,000
Average market time: 14 days
Average price per square foot: $826
Number of sales over $2,000,000: 5 homes
Average percentage over list price: 6.08%
Comparison:
Total Closed Sales: In 2022, there were 101 closed sales, whereas in 2023, the number decreased to 62. This indicates a drop in the overall activity in the real estate market in 2023 compared to the previous year.
Median Price: The median price of homes in 2022 was $1,315,000, and it decreased slightly to $1,250,000 in 2023. This suggests a slight decline in property prices over the past year.
Average Market Time: The average market time in 2023 reduced to 14 days from 19 days in 2022. This indicates a faster-paced market with homes selling more quickly in the recent year.
Average Price per Square Foot: The average price per square foot in 2023 was $826, slightly lower than the $836 recorded in 2022. This indicates a slight decrease in the price per square foot of properties.
Number of Sales Over $2,000,000: The number of homes sold for over $2,000,000 decreased from 7 in 2022 to 5 in 2023, suggesting a reduced number of high-end luxury property sales.
Percentage Over List Price: The average percentage over list price decreased from 8.81% in 2022 to 6.08% in 2023. This indicates that, on average, buyers paid less above the list price for properties in 2023 compared to the previous year.
Overall, the real estate market in the past 90 days of 2023 shows a decline in the number of closed sales, a slight drop in median price and average price per square foot, and a reduced number of high-end sales compared to the same period in 2022. However, the market in 2023 also exhibited faster sales with a shorter average market time.
Here are the percentage changes for each statistic between 2022 and 2023 based on the provided data:
Total Closed Sales: -38.61%
Median Price: -4.94%
Average Market Time: -26.32%
Average Price per Square Foot: -1.20%
Number of Sales Over $2,000,000: -28.57%
Percentage Over List Price: -31.04%
These percentage changes show the direction and magnitude of the differences between the two years’ real estate statistics. Negative values indicate a decrease in the given metric, while positive values would indicate an increase.