Let’s crunch the numbers for the Glendale housing market for September 2022. Glendale home sales are down. The selling price to list price ratio is the lowest year to date.
The number of home sales was down last month, along with the average price per square foot and average sales price. Nineteen of these thirty-eight homes sold for over the asking price, three at asking, and sixteen below asking. One of the least expensive Glendale home sales was a two-bedroom, one-bathroom, 690-square-foot home located at 335 N. Chevy Chase Dr. This home was listed for $591,000 and sold for $590,000 in twenty-eight days. The most expensive home sold was a three-bedroom, three-bathroom, 1,721-square-foot home located at 272 Mesa Lisa Rd. This luxury home was initially listed for $2,189,000 and sold for $2,470,000 in just eleven days.
Price per square foot ranged from a low of $483.70 to a high of $1435.21. The highest-priced home sale noted above on Mesa Lila was the highest price per square foot. 3390 Oakmont View was a 4,755-square-foot home selling for the lowest cost per square foot.
Several months ago, CAR (California Association of Realtors) predicted interest rates would drop in October. Now, they are doubtful, but I am not so sure. Interest rates typically dip before an election. Interesting to note that it is believed that rates will rise to 8.5% and hopefully come back down to the five or six percent (historic) range. The current market allows buyers to purchase now while prices are slightly softer and ideally refinance to a lower interest rate later.
