As a Glendale real estate specialist, I love to crunch the numbers! Let’s dive into the Glendale Housing Market for October 2021:
Last month, a total of forty-eight homes were sold. This level of activity reflects strong buyer interest and market momentum. Moreover, the absorption rate was less than 1%. This exceptionally low rate indicates a very strong market for Glendale home sellers. Homes are selling quickly, with limited inventory creating high demand. Digging deeper into the numbers, twenty-nine of these sales closed for over the asking price. This suggests competitive bidding and eager buyers willing to pay a premium.
Meanwhile, four homes sold at the asking price, reflecting fair market value and well-priced listings. On the other hand, fifteen properties closed for less than the asking price, signaling opportunities for negotiation. Interestingly, nine of these homes required price reductions before eventually selling. This demonstrates that while the market is strong, accurately pricing a home remains crucial for a successful sale.
The least expensive home sold was a two-bedroom, one-bathroom, 826-square-foot home located at 321 S. Chevy Chase Dr. for $600,000. The most expensive home sold was a four-bedroom, five-bathroom, 3,704 square foot home located at 1207 Rossmoyne Ave. for $3,100,000.
