It’s no secret that Glendale home values and rents are soaring. A quick glance shows the absorption rate has increased from January, which is a bit of good news for Glendale home buyers.
But, let’s compare year over year. Last February (2015) there were 25 Glendale home sales. The average price per square foot was $422 and the average Glendale home sold in 48 days (remember we have those new lending regulations (TRID) which increased the time it takes to close a loan. The average sales price was $765,325 and the average Glendale home was selling for 100.49% of asking price. The absorption rate was 4% and the median sales price was $725,500.