October is almost over so it's a good time to share some statistics of our current Real Estate market in the 91020 & 91214 area codes. 

In this month's update, we'll dive into some local market data, focusing on the Absorption Rate, Median Sales Price and Availability.

Let's talk Absorption Rate %. What is it? And how do we calculate it?

Absorption Rate = Put simply, the Absorption Rate is a measure of Supply and Demand.

We calculate it by taking the Number of Homes Sold in a Month (12) and dividing it by the Number of Homes on the Market (47) in said month. This gives you a % of how quickly homes are selling. *Rates over 20% indicate a hotter real estate market with rising home demand and home prices.

La Crescenta-Montrose holds a 26% Absorption Rate for the month of October 2023. This indicates that the Real Estate Market is continuing to yield competition for active Buyers. 

With the Median List Price is $1.285M and the Median Sold Price is $1.3M, this justifies the Absorption Rate and solidifies that Demand outweighs our current supply that's now Available. 

Curious about your area? Don't hesitate to reach out for any information.

424-386-6746 / Rebecca@jhagents.com