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Glendale Housing Market May 2021

Let’s take a look at the Glendale, CA, housing market for May 2021.  Fifty-four homes sold; forty of these homes sold for over their asking price, three at asking, and eleven under their asking price. Ten of the fifty-four homes had price reductions before eventually selling. The average price per square foot is the highest for the year.

The least expensive home sold was 319 W. Chevy Chase Dr, this one bedroom, one bathroom 504 square foot home sold for $615,000 which was $15,100 over the asking price. The most expensive home sold was 625 W. Kenneth Rd; this five-bedroom, six-bathroom, 4,692-square-foot estate sold for $4,000,000.

Glendale Housing Market May 2021

Glendale Housing Market May 2021 Recap

The Glendale real estate market is currently experiencing an extreme shortage of available homes, with an absorption rate of less than 1%, which translates to less than one month of listing inventory. This low absorption rate indicates a highly unbalanced market, heavily favoring sellers due to the limited number of properties for buyers to choose from. Homes are selling quickly, and demand continues to outpace supply, driving competition and often resulting in multiple offers. If you’ve considered selling, now is a strategic time to capitalize on this market imbalance.

 

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