I want to share this article: 57 Percent of People Living in Los Angeles Can’t Afford to Live in Los Angeles
It’s no secret that Glendale home values and rents are soaring. A glance shows the absorption rate has increased since 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 the asking price. The absorption rate was 4%, and the median sales price was $725,500.
