Let’s take an in depth look at Glendale Real Estate Values May 2020:
In May 2019, 45 Glendale homes closed escrow versus just 18 Glendale home sales in May 2020. Days on market has decreased throughout COVID (March – May). Six Glendale homes sold in less than five days on the market (DOM). Because of COVID more Glendale homes are selling off market. Many Los Angeles homeowners are reluctant to have a parade of people through their home and selling off market is currently more common.
Another reason the days on market has decreased is there are no Sunday open houses. There is no need to wait for a parade of open house visitors – open houses are not allowed.
Read about my off market Glendale home sale here:
Let’s continue the number crunching for Glendale real estate values May 2020. The current Glendale absorption rate of 3.22% reflects less of a seller’s market. But homes in lower price ranges are highly sought after. These often continue to sell over the initial asking price. In May 2020 nine Glendale (50%) homes sold over asking price. Two sold at asking price. Four Glendale homes selling for less than list price were priced at $1,000,000 or higher.
Last month the least expensive Glendale home sold was a two bedroom, one bath, 1,156 sq ft home on Glenmore which sold for $630,000. The most expensive sale was four bedroom, five bathroom, 3,745 square foot luxury home located at 1627 Allen Ave.
