Glendale home statistics: Competitive Conditions Persist
Each month, I enjoy analyzing Glendale’s real estate statistics. The numbers always tell a story. Right now, the market remains challenging for home buyers. This struggle is evident in the consistently low absorption rate, which signals limited inventory and strong demand. Sellers continue to hold the advantage as homes move quickly off the market.
Last month, the median selling price for Glendale homes climbed higher. Half of the homes sold for under $914,500, while the other half sold for more. This figure represents an increase from the previous month, highlighting the upward pressure on home values. Buyers are still willing to pay premium prices to secure properties in this desirable community.
Glendale real estate values showcased a broad range. On the lower end, a cozy 1,188-square-foot home sold for $540,000. Despite its modest size, it provided an accessible entry point for buyers. On the high end, a stunning 3,568-square-foot residence on 900 Whitehaven commanded $1,627,000. This spacious property offered luxury and elegance, justifying its top-tier price.
To understand the market’s evolution, it’s helpful to look back at last year’s statistics from January:
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The average price per square foot was $511.81.
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The average selling price reached $945,022.
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The absorption rate stood at 1.86.
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The median selling price was $950,000.
Comparing these figures to today, it’s clear the market has become even more competitive. Prices are climbing, and inventory remains scarce. The absorption rate has tightened further, pushing buyers to act quickly and bid aggressively.
