Glendale Housing Market July 2021

Let’s take a close look at the Glendale housing market for July 2021:

Last month, Glendale’s housing market was bustling. First, fifty homes successfully closed escrow. Notably, thirty-six of these homes sold above their asking price. Meanwhile, three sold exactly at the asking price. However, eleven fetched less than the listed amount. Additionally, six homes required price reductions before selling. For instance, the least expensive home was a modest two-bedroom, one-bathroom property. This 653-square-foot residence at 385 Hill Dr. sold for $610,000. Consequently, the market remains highly competitive. As a result, most homes attract strong offers. Nevertheless, some listings need adjustments to close. Therefore, Glendale continues to favor sellers overall.

The most expensive Glendale home sale was a four-bedroom, three-bathroom, 3,632 square foot home located at 1511 La Vista Terrace. It sold for $3,000,000.

Glendale Housing Market July 2021 Recap

In summary, robust demand drives this vibrant market. The absorption rate is the highest for the year, but it continues to be an exceptionally strong seller’s market. Most Glendale homes continue to sell quickly and substantially over asking price.

“Home prices have been rising in the mid-single digits for some years now. The recent surge to double-digit price jumps reflect the convergence of exceptional demand and persistent low supply. With plenty of cash on the sidelines, along with very low mortgage rates, prices are heading up and affordability will become a more acute issue for the foreseeable future.” -Frank Martell, President and CEO of CoreLogic

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Glendale Housing Market July 2021

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