Last April, 51 Glendale homes sold; the absorption rate was 2.45%. In April 2014, only 44 homes sold (due to a shortage of listing inventory), the absorption rate of 1.57% indicates an even stronger home sellers market.
Last April the average selling price per square foot was $352 versus this year’s $401. The number of Glendale short sales spiked in April, I don’t think it’s a trend, we’ll see how it plays out next month. 16% of Glendale home buyers were cash buyers.
LA County home buyers must be flexible, be willing to act quickly and often pay over the seller’s list price. The average Glendale home is selling for 4% over asking price.
Find all Glendale real estate listings here
