La Crescenta Homes for Sale median price during 2007 & 2008

La Crescenta Homes for Sale median price during 2007 & 2008

 

La Crescenta Homes for Sale Median Price is the mid-point of home sales – ½ of the homes sold for more and ½ of the homes sold for less.   The red lines in these charts is the 90 day average of the median price; the black line is the 7 day average.The 1st chart (above) covering the last 90 days doesn’t tell much but the one year chart below shows the median price climbed in May and June and then began dropping during the summer.   In February 2008 loan limits on conforming loans were raised from $417,000 to $729,000.  When this occurred a larger number of more expensive homes began to sell because loans were available for them – causing the La Crescenta median home price to increase.  By the end of June overall price declines began to once again push the median price down.  In December the loan limits began to adjust downward to $625,000 once again pulling the median price down.
 

La Crescenta Homes for Sale median price during 2008

La Crescenta Homes for Sale median price during 2008

 

In the two year La Crescenta Homes for Sale chart median prices show the sharp decline began in early 2007 and began leveling off during the spring and summer of 2008.  In the winter of 2008 the median price began to fall again.  The change in loan limits that lasted between February 2008 and December 2008 helped to stabilize home prices.  By comparing these charts with those in my previous post it begins to look like the market may be stabilizing.Other factors to consider are inventories and foreclosure levels.  Be sure to look at my future posts for this information.
 

La Crescenta Homes for Sale median price during 2007 & 2008

La Crescenta Homes for Sale median price during 2007 & 2008