After crunching the numbers from the MLS, Harb & Co. wants to provide you with the Glendale Housing Values September 2019 Update. Selling prices ranged from $615,000 for a two-bedroom, one-bath, 860 square-foot home on California Ave. Prices went up to $2,000,000 for a five-bedroom, five-bath, 4,382 square-foot estate at 1514 N. Maryland Ave. Last month, fifty Glendale homes closed escrow.
The average price per square foot has been fairly consistent since February.
Many Glendale, CA homes continue to sell for over asking price. Nineteen sold for more than the asking price. Twenty sold for less, and eleven sold at the list price. Seventeen of these sales had a price reduction before selling. The absorption rate of 1.94% continues to reflect a very strong market for Glendale, CA home sellers. In fact, the absorption rate means that if there were no new Glendale listings, we would run out of listing inventory in less than two months. As a result, it’s a great time to be a Glendale home seller.
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. Overall, the median 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.
On the national real estate front: Las Vegas (6.4%), Phoenix (5.7%) and Tampa, Florida (5.1%) accounted for the highest year-over-year price increases. Meanwhile, metros with the largest slowdown from the previous year continue to be in the Western area of the country. These include Seattle (14.8%-point drop), and San Francisco (9.9%-point drop). What’s more, Seattle is also experiencing falling home prices with year-over-year declines of -1.2%. In fact, this is the first metro from the 20 Case-Shiller Index market to experience a decrease in home prices since December 2012.
To learn more about the Glendale community check out my real estate website.
