As a Glendale, CA, real estate expert, I must stay in tune with the market. Let’s crunch the numbers for the Glendale housing market in August 2022. The number of sales jumped from 26 to 44. The average sales price and median price have both decreased. Twenty-one homes sold for over the asking price. Two at asking and twenty-one below. The least expensive home sold in Glendale was a one-bedroom, one-bathroom, 608-square-foot home located at 2503 E. Glenoaks Blvd., selling for $640,000. The most expensive sale was a four-bedroom, three-bathroom, 3,677 square-foot home located at 1110 Kildonan Dr. This luxury home was initially listed for $2,888,500 and sold over asking for $3,145,000.
Desirable homes, such as the luxury sale on Kildonan, continue to sell over the asking price and in multiple offer situations. It is critically essential for home sellers and their real estate agents to price the home from the onset correctly. The Glendale housing market in August 2022 is experiencing more price reductions. In addition, sellers are frequently giving monetary credit to buyers after the inspection. While it remains a favorable market for home sellers, buyers now have some leverage.
Price per square foot ranged from a low of $551.28 for a 608 square foot home located at 2503 Glenoaks Blvd. The highest-priced home sale on Kildonan sold for $1202.73 per square foot.
Related Post: Glendale Housing Market July 2022
How nice that the luxury sale came in over asking, way over. I read a lot about the falling luxury market even in the LA area. The proper pricing must be the difference maker