Let’s dive into the Glendale housing market for August 2021. Last month, forty-five homes sold. Thirty of these Glendale home sales sold over their original asking price, three at asking and twelve less than asking. Just three homes had price reductions before eventually selling. Glendale home sellers continue to list their homes slightly under market value which results in most homes selling above asking price, and often substantially over.
Glendale Housing Market August 2021 Recap:
The Glendale housing market strongly favors sellers. First, the absorption rate stays low. Listing supply fails to meet buyer demand. As a result, competition is fierce. Additionally, the selling price to list price ratio remains high. For example, a Cielito Drive home listed at $1,750,000 sold for $2,350,000. That’s a shocking $600,000 over list price! Moreover, six Glendale homes sold above $2,000,000. Two even exceeded $3,000,000. Consequently, this seller-driven market thrives on limited inventory and high demand.
