Let’s dissect the numbers for the Glendale Housing Market in July 2020. The least expensive home sold was a two-bedroom, one-bathroom, 784-square-foot home at 332 Brent Place. It sold for $649,000, which was $100,000 over the asking price. The most expensive home sold was a mid-century three-bedroom, four-bathroom, 4,066 square-foot home located at 1841 Deermont Road, which sold for off market for $3,075,000.
Last month, nineteen Glendale homes sold above their list price. Three homes fetched exactly the asking price. Twenty-five homes closed below their listed value. Five homes required price cuts before selling. One home’s listing price rose. Frenetic market activity drives such increases. Listing agents raise prices when there are way too many offers to handle. Glendale’s market in July 2020 showed intense competition. Low inventory fueled rapid sales. Buyers often bid aggressively. Sellers capitalized on high demand. Price reductions signaled overpricing in some cases. The single price increase aimed to control the pace. This reflects a strong seller’s market.
The number of homes sold increased 56% from last month.
Glendale Housing Market July 2020 Recap:
The recent rebound of home sales suggests COVID has not deterred home buyers, who continue to be motivated by historically low mortgage rates. This, coupled with lack of homes for sale keeps this market very favorable for Glendale home sellers.
