Glendale Housing Market April 2019: Selling prices ranged from $518,000 for a two bedroom, one bath, 724 sq ft home on Everett St., to $1,888,000 for a four bedroom, three bath, 3,430 sq ft estate on 1390 Greenmont Dr. Last month thirty-eight Glendale homes closed escrow.
Sixteen of these Glendale homes sold for over asking price, thirteen sold for less and nine at asking price. Six of these Glendale homes had a price reduction prior to selling. The absorption rate of 2.08% continues to prove it’s an excellent time to sell your Glendale, CA home.
It continues to be a very difficult real estate environment for entry level home buyers. While there are loan programs available allowing for smaller down payments, the monthly payment is often not affordable.
It is also a very difficult market for Glendale real estate agents. There are 1,356 Glendale Realtors and just 38 sales. Assume each of these sales had a different listing agent and selling agent that would equate to 76 Glendale Realtors closing escrow in May. Of course most Realtors sell homes in more than one city. When the real estate market is booming, many people think being a Realtor is an easy job and easy money and our membership swells.
The number of days on market (DOM) had declined greatly since January. All of the rain we had created havoc scheduling home inspections. The average Glendale home continues to sell quickly and for over asking price. Multiple offers are common.
Real estate sales tends to increase in spring and summer typically slowing down in winter. Sales activity in the spring often increases by about one third while prices slightly increase. In contrast, the slowest months of closing activity are November, December, January, and February, with January often being the slowest. Once the weather improves, more buyers tend to look at homes. As these disparities are mostly due to seasonal variances, they don’t represent actual trends in the Los Angeles real estate market.