Glendale, Housing Market December 2019: Selling prices ranged from $610,000 for a two-bedroom, one-bath, 899 square foot home on Faircourt Lane. to $2,150,000 for a five-bedroom, four-bathroom, 3,446 square foot luxury home located at 1541 Hillcrest Avenue. Last month, forty-three Glendale homes closed escrow. As is typical, many buyers and investors want to close before the holidays and the end of the year.
Glendale, Housing Market December 2019 Recap:
Many Glendale, CA homes In December, fifteen Glendale homes fetched prices above their asking figures. Bidding wars often push offers higher. Eight of these homes saw price cuts before closing. Sellers strategically lowered prices to spark interest. The market’s absorption rate sits at a mere 0.60%. This low rate signals intense competition. Without new listings, Glendale’s inventory would vanish in less than one month. Buyers scramble for limited options. Typically, year-end sees a dip in the absorption rate. Most sellers avoid listing homes during the holidays. Families focus on festive plans instead. This scarcity fuels even fiercer demand. Glendale’s vibrant neighborhoods attract diverse buyers. Proximity to Los Angeles boosts its appeal. Top schools and parks add value. Homes sell quickly in this dynamic market.
