Glendale Housing Update October 2019: Selling prices ranged from $455,000 for a two-bedroom, one-bath, 806-square-foot home on Palmer Ave. to $2,250,000 for a three-bedroom, three-bath, 2,108-square-foot equestrian estate at 154 Allen Ave. Last month forty-four Glendale homes closed escrow.
Many Glendale, CA homes continue to sell for over the asking price. One-half of Glendale, CA homes sold for more than the asking price, twenty sold for less, and two at the list price. Eight of these sales had a price reduction before selling. It is no surprise to Glendale, California, home buyers that this continues to be a robust seller market. The absorption rate of 1.89% 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. calculate the median and average selling price. The median price reflects half the homes sold for more and half for less. The median selling price is more indicative of market conditions than the average selling price. A large amount of lower or higher-end sales can skew the average. The Glendale median selling price continues to reflect this real estate market is fueled by entry-level buyers.
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