Glendale Home Stats for September 2018: Last month 37 Glendale homes closed escrow. Selling prices ranged from $470,000 for a two bedroom one bath on Acacia Dr. to $2,688,000 for a five bedroom, five bath 4,752 sq ft estate on Balmoral Dr.
Sixteen of the Glendale homes sold for over asking price. Two sold at asking price, and nineteen sold for less. The median selling price was $1,033,000. The listing price on eight of these September home sales was reduced prior to opening escrow.
According to Core Logic, Southern California home sales hit the brakes in June, falling to the lowest reading for the month in four years. Sales of both new and existing houses and condominiums dropped 11.8 percent year over year, as prices shot up to a record high. Their report covers Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties.
To learn more about the Glendale area check out my real estate website @ www.HarbandCo.com
Perhaps rising interest rates have contributed to the slow down
Yes, that and the change in mortgage interest deduction ($750,000 instead of $1,000,000) and $10,000 cap on property tax write off.