Let’s take a look at October 2022 Glendale Housing Market. Thirty-four homes closed, just a few less than September, which is typical this time of year. The average price per sq ft is just a tad lower but the average sales price and median price home have increased. Seventeen of the homes sold for over the asking price. Three at asking and fourteen below the asking price.
As interest rates increase, the number of Glendale home sales continues to decline. The least expensive home sold was a two-bedroom, one-bathroom, 913 sq ft home located at 501 Allen Ave. Listed for $775,000 and sold for $760,00 in nineteen days. The most expensive Glendale home sale was a five-bedroom, three-bathroom, 3,281 square foot Llyod Wright home located at 2535 E. Chevy Chase Dr. This home was originally listed for $2,995,000 and sold in one hundred forty days for $2,885,000.
The average price per square foot varied. On the low end was a 2,462 square-foot home on Golf Club selling for $487.41. 851 Norton Ave., a 1,621-square-foot home, sold for $932.76.
According to Core Logic: Annual home price growth slowed for the third consecutive month in July but remained elevated at 15.8%. As 30-year, fixed-rate mortgages neared 6% this summer, some prospective homebuyers pulled back, helping ease overheated and unsustainable price growth. Notably, home prices declined by 0.3% from June to July, a trend not seen between 2010 and 2019, when price increases averaged 0.5% between those two months, according to CoreLogic’s historic data. Looking ahead, CoreLogic expects to see a more balanced housing market, with year-over-year appreciation slowing to 3.8% by July 2023.