Let’s crunch the numbers for Glendale Real Estate in August 2024. Thirty homes sold last month, down from the last few months. Nineteen of these homes sold for over the asking price, one at the asking, and ten under the asking price. A three-bedroom house with two bathrooms at 1423 Stanford Dr sold for $483.87 per foot. A one-bedroom with one bathroom at 644 Alexander St. sold for $1,292.91 per foot.
Last month, the least expensive home sold in Glendale was a two-bedroom, two-bathroom, 989-square-foot home at 501 Solway St. Initially listed for $700,000, it sold in nearly two months for $615,000. The most expensive homes sold were a five-bedroom, three-bathroom, 3,788-square-foot home at 1686 Valley View Rd and a four-bedroom, three-bathroom, 2,797-square-foot home at 2501 Hermosita Dr., both selling for $2,200,000. To read more about these sales, refer to my post regarding Most Expensive Glendale Homes Sold in August 2024.
The number of days on market is the highest year to date. Days on market ranged from zero for a home on Caminito Del La Estrella. A five-bedroom home on Valley View took 163 days to sell. There were ten homes which took more than a month to sell. Although the absorption rate is the highest for the year, it’s still a seller’s market.
Seems like we have been in a sellers market for a long long time. Interesting to see how long it could take for the market to swing the other way