Glendale Housing Update November 2019: Selling prices ranged from $585,000 for a two-bedroom, one-bath, 1,114-square-foot home on Highland Ave. to $2,600,000 for a four-bedroom, five-bath, 4,010-square-foot Glendale Historical Estate located at 1428 Imperial Dr. Last month forty-one Glendale homes closed escrow.
Many Glendale, CA homes continue to sell for over asking price. Sixteen of these Glendale, CA homes sold for more than asking price. Seven of these sales had a price reduction prior to selling. It comes as no surprise to Glendale, California home buyers that this continues to be a very strong sellers’ market. The absorption rate of 1.63% indicates that if there were no new Glendale listings, we would run out of listing inventory in less than two months.
After reviewing MLS data each month, Harb and Co. calculates both the median and average selling price. The median price reflects half the homes sold for more and half sold for less. The median selling price is more indicative of market conditions than the average selling price. The average can be skewed by a large amount of lower or higher end sales. The Glendale median selling price continues to reflect this real estate market is fueled by entry level buyers.
Hoping for a good turnout at my Verdugo Woodlands listing located at 1534 Wabasso Way, I will be at this Webster Wiley ranch home Saturday & Sunday from 2-4 PM.
