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, and the average days on the market were just 27. Many Glendale, CA homes continue to sell for over asking price.
Twenty-two of the Glendale homes sold for over the asking price, twenty sold for less, and three at the asking price. Six of these Glendale homes had a price reduction before selling. The absorption rate of 1.96% continues to reflect an extreme seller’s market. Harb and Co. calculates the median and average selling price each month. 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. A large number of lower-end sales can skew the average.
To learn more about the Glendale community, check out my real estate website.
