Let’s take a close look at the Glendale housing market for July 2021:
Last month fifty homes closed escrow. Thirty-six of these Glendale homes sold over the asking price, three at the asking and eleven less than the asking price. Six homes had price reductions prior to selling. The least expensive home sold was a two-bedroom, one-bathroom, 653-square-foot home located at 385 Hill Dr. for $610,000.
The most expensive Glendale home sale was a four-bedroom, three-bathroom, 3,632 square foot home located at 1511 La Vista Terrace. It sold for $3,000,000.
The absorption rate is the highest for the year, but it continues to be an exceptionally strong seller’s market. Most Glendale homes continue to sell quickly and substantially over asking price.
“Home prices have been rising in the mid-single digits for some years now. The recent surge to double-digit price jumps reflect the convergence of exceptional demand and persistent low supply. With plenty of cash on the sidelines, along with very low mortgage rates, prices are heading up and affordability will become a more acute issue for the foreseeable future.” -Frank Martell, President and CEO of CoreLogic
