Glendale Home Statistics February 2019: Last month, twenty-eight Glendale homes closed escrow. Selling prices ranged from $625,000 for a 2+1, 912 sq ft on Lake St. to $2,450,000 for a 7+6, 7,670 sq ft estate on Woodholly Court.
Glendale Home Statistics February 2019 Recap:
The average Glendale home is currently selling in forty days. This reflects a relatively quick pace, but it’s still slower than in previous months. Nine homes in Glendale sold for over the asking price in February. Two homes sold at the asking price, showing solid demand. Seventeen homes sold for less than the original listing price, highlighting the importance of pricing strategy.
This trend reinforces the idea that an effective marketing plan with an aggressive asking price can lead to the highest profit for sellers. Last month, there were four price reductions, signaling a shift toward a more balanced market. The absorption rate has dropped, which typically signals a stronger seller’s market. However, I suspect the drop is partly due to the rain.
Rain often disrupts the home-selling process. It makes scheduling professional photography and open houses more challenging. Sellers have to navigate weather conditions that affect their ability to market properties effectively, which likely contributed to the current market dynamics.
