Let’s dissect Glendale home sales January 2020: Below we compare January, year over year:
First-time buyers continue to fuel the Los Angeles real estate market. Smaller Glendale homes are selling as evidenced by the decrease in the median selling price. Price per square feet jumped as more starter homes are selling. When determining the average selling price per square foot, it is important to keep in mind that each home is sited on land. Each has a kitchen, a more expensive room than a bedroom. Thus, smaller homes generally sell for a higher price per square foot than larger homes.
Five took more than 100 days to sell: 112 -184 days on the market. Selling prices ranged from $540,000 for a 996 square foot home on Lexington to $1,800,000 for a 4700+ square foot home on Western Ave.
The just over 1% absorption rate indicates a very unhealthy real estate environment, heavily favoring Glendale home sellers.
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