Let’s number crunch the Glendale Housing Market June 2020. The least expensive home sold was a two bedroom, one bathroom, 837 square foot home at 1273 Raymond Ave. for $692,000. The most expensive home sold was a gorgeous six bedroom, six bathroom, 5,082 square foot Spanish estate located at 1515 Bel Aire Dr which sold for $2,665,000.
In the beginning of this pandemic, buyers and sellers were uncertain. There were some price renegotiations. Many escrows were cancelled.
Now that COVID is the new normal, more homes are selling (closing). Buyers have returned and the absorption rate has decreased giving Glendale home sellers the advantage. Housing supply simply isn’t meeting demand. There is talk of a new wave….. of delaying school opening, a recession, of record unemployment, but the Glendale housing market for June 2020 is very strong. And if you are a home buyer you know just how competitive it is.
Last month thirteen Glendale homes sold over asking price. Four sold at asking price. A three bedroom two bath home on Chevy Chase Drive listed at $750,000 sold for $937,000. Most homes are selling quickly. The number of days on market is a direct reflection of the percentage of selling price to list price. Just three homes took more than sixty days to sell. And each of these sold substantially less than their asking price.
