Glendale Values February 2017: Glendale real estate values varied significantly last month. Home prices ranged from $520,000 to $2,140,000. This wide range shows the diversity in the local market. Meanwhile, the number of days homes spent on the market increased. Properties took longer to sell compared to the previous month. At the same time, the absorption rate also went up. This metric is crucial for understanding market demand. It measures how quickly homes sell relative to the number of listings. In Glendale, the absorption rate remains exceptionally strong. If no new listings appeared, the existing inventory would completely sell out in two months. This rapid turnover highlights intense demand and limited supply. As a result, Glendale home sellers hold a clear advantage.
Glendale Real Estate Values February 2017 Recap:
This is the perfect time to price aggressively. Sellers can confidently list their homes at competitive prices. Strong demand often leads to multiple offers, and overbidding is common, driving final sale prices even higher.
“This spring housing market is shaping up to be another doozy for homebuyers,” according to Ralph McLaughlin, chief economist for Trulia. “Housing affordability is the key to helping break yet another year of gridlocked inventory, but all signs show that homes this spring will be much less affordable than last year.” Glendale home buyers may believe their biggest obstacle is affordability, but the larger concern is the lack of inventory.
