Glendale market report June 2017:
Last month, Glendale’s real estate market showed remarkable strength. Twenty-six homes sold for over $1,000,000, pushing the median selling price to an impressive $1,025,500—wow! The sales ranged widely, starting at $535,000 for a modest 616-square-foot home and reaching $1,825,000 for a stunning 3,291-square-foot view home on Maginn Drive.
However, online evaluations like Zillow can be misleading. They often fail to account for one critical factor: the view a property offers. For example, on Maginn Drive, not all views are created equal. Some properties boast breathtaking panoramic vistas, while others have more limited sights.
Glendale market report June 2017 Recap:
This month’s Glendale real estate market report highlights several record-breaking statistics. The price per square foot, average selling price, and median price have all hit their highest points of the year. Yet, despite these impressive figures, affordability remains a challenge. Only three homes sold for $600,000 or less, signaling tough times ahead for first-time buyers. As prices climb, entry into this market becomes increasingly complex.
The average selling price is the total of all home prices divided by the number of sales. Extreme prices can skew this figure. The median selling price is the middle value of all sales, offering a clearer picture of typical home costs. It’s less affected by outliers.
