Glendale, Housing Market December 2019: Selling prices ranged from $610,000 for a two bedroom, one bath, 899 square foot home on Faircourt Lane. to $2,150,000 for a five bedroom, four bathroom, 3,446 square foot luxury home located at 1541 Hillcrest Avenue. Last month forty-three Glendale homes closed escrow. As is typical, many buyers and investors want to close before the holidays and the end of the year.
Many Glendale, CA homes continue to sell for asking price. Fifteen of December’s Glendale, homes sold for more than asking price. Eight of these homes had price reductions prior to selling. The very low absorption rate of .60% indicates that if there were no new Glendale listings, we would run out of listing inventory in less than two months. Typically the absorption rate at the end of the year is low as most home sellers don’t list their home at year end.