Real Estate Values in Glendale April 2015: The average selling and median prices have reached their highest levels so far this year. At the same time, the absorption rate has dropped to its lowest point year to date. As a result, the current listing inventory would be depleted in less than two months if no new homes entered the market.
This stronger market comes as no surprise. As the economy steadily improves, first-time buyers are reentering the market, fueling demand. More homeowners will likely decide to list their properties in response to rising prices. Additionally, builders may ramp up construction of new housing. Together, these developments could help alleviate the ongoing supply shortage.
Real Estate Values in Glendale April 2015 Recap:
Home sellers should take full advantage of today’s low absorption rate. It reflects a red-hot seller’s market. Homes are selling quickly. Inventory is tight. Buyers are competing for limited options. By pricing just slightly below market value, sellers create urgency. This strategy draws in multiple offers. Bidding wars often follow. These drive the final price well above asking. Sellers end up negotiating up—not down.
In today’s market, well-priced homes don’t sit. They sell fast, often over asking. Timing is key.
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