Let’s dive into the numbers for the Glendale Housing Market in September 2020. The least expensive home sold was a two-bedroom, one-bathroom, 1,384-square-foot home at 1510 Columbia Dr. for $650,000, which was $25,000 over the asking price.
Glendale has undoubtedly come into its own! The most expensive sale was 1611 Glenmont Dr. The Buchanan Estate was initially listed for $3,875,000 and sold for $4,400,000.
Last month, forty-one homes sold in Glendale. Thirty-five sold over the list price. Three sold at the asking price. Three sold less than the list price.
Factors which reflect a strong sellers’ market: DOM (days on market) is low, Selling Price to List Price reflects most homes are selling over asking price. The absorption rate is just over 1%.
The housing market for homes in Los Angeles County is extremely currently very tight, with few options for buyers. Harb and Co. have successfully negotiated six purchases for our clients in the last two months. Despite numerous changes (record low-interest rates, high unemployment, COVID, homeschooling, etc.), we are still in the same pattern that has been in place since 2012 with a limited number of listings. The laws of supply and demand continues to rule the real estate market.
I wonder when I look at these numbers how many people selling are doing so to move out of California and if anyone buying is relocating here. My personal feeling is that people are leaving
There is a lot of discussion about moving out of California because of how expensive it is…the taxes, the failing infrastructure and the homeless. I haven’t found as many people moving here as they have in years past.