Los Angeles Home Sellers should not have too much “padding” in their list price, IF they want to sell their home. June stats indicate that over 28% of La Crescenta homes sold at or over asking price and nearly ¼ of all Glendale homes sold at or over asking price. Los Angeles home sellers don't require much negotiating room when pricing their home to sell.  Homes that are selling, are selling near their most recent asking price.  Potential home buyers, ask your Realtor to “run the comps” before you make an offer.

Glendale homeowners continue to price their homes to sell; they are selling faster (on average 97 cumulative/total days on market) and on average 97% of final asking price. 5 of the 43 sold homes, sold at asking price and another 5 over asking – nearly ¼ of the Glendale sales are selling at or over asking price. Yes, prices have dropped but are you surprised that it is not all doom and gloom?
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La Crescenta homeowners continue to sell more quickly and closer to asking price than their La Canada neighbors; La Crescenta homes are selling for nearly 97% of asking; the average (cumulative) days on market is 124. 3 of the 21 sales, sold for full price and another 3, sold over asking; over 25% of La Crescenta sales are at or over asking price.
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La Canada homeowners continue to price their homes too high; none sold for over asking and none for full price.  And by their insisting on padding their asking price with “negotiating room”, they are taking the longest time to sell – 165 (cumulative) days.
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Compare the above listing to selling price ratios to May, 2008
Compare to April, 2008
Compare to March, 2008