A small (660 sq ft) Glendale home sold at $642 a foot which skewed most of Glendale’s numbers.
The absorption rate is the highest it’s been in the last fourteen months. An absorption rate of under 5.0% reflects a very strong seller’s market. The increase in the absorption rate may indicate that Glendale real estate may be on its way to becoming more balanced. We’ll have to wait and see what next month’s real estate statistics reflect.
20% of Glendale home sales were cash
12% of Glendale home sales were short sales or foreclosures – 28% of Glendale sales February 2013 were short sales or foreclosures.