Before we analyze the Glendale Housing Market for August 2020, I have my own update. After several unaccepted offers, my clients have opened escrow for a mid-century Glendale beauty. It’s located near the Chevy Chase Country Club, which has recently been revamped. They can walk to dinner, happy hour, or Sunday Brunch. We could not be more excited. It’s not easy being the successful bidder in this market, but we did it! We beat out fifteen other buyers – I can’t tell you my trade secrets… unless you are my client.
Now that I shared my news, we can dissect the Glendale housing market in August 2020. Last month, fifty-four Glendale homes closed escrow. The lowest priced home was a one-bedroom, one bathroom, 572 square foot home on Chestnut which sold for $558,000. The most expensive sale was a four-bedroom, five-bathroom, 3,988 square foot home at 601 Seclusion Lane which sold for $2,400,000.
Twenty-two out of the fifty-four homes sold last month sold over the asking price. Seven sold at asking and twenty-five sold less than asking. Five Glendale homes had price reductions prior to selling.
Cash buyers have returned to the market in force, bringing the days on market (DOM) down. Average selling price and median selling price are both up year over year.
If you are a Glendale home buyer, you have been experienced first hand the lack of inventory as evidenced by the low absorption rate.
