Glendale Housing Update May 2019: Selling prices ranged from $610,000 for a two bedroom, two bath, 1,625 sq ft home on Stanford Dr. to $2,250,000 for a three bedroom, three bath, 2,879 square foot estate on Brockmont Dr. Last month forty-five Glendale homes closed escrow.
The average price per square foot was $559.00, average days on market was just 27. Many Glendale, CA homes continue to sell for over asking price.
Twenty-two of the Glendale homes sold for over asking price, twenty sold for less and three at asking price. Six of these Glendale homes had a price reduction prior to selling. The absorption rate of 1.96% continues to reflect a very strong seller’s market. Each month, Harb and Co. calculates both the median and average selling price. The median price is where half the homes sold for more and half sold for less. The median is more indicative of market conditions than the average selling price. The average can be skewed by a large amount of lower end sales.