Let’s crunch the numbers! Glendale housing update for September 2021:
Last month, forty-eight homes successfully closed escrow. This steady number of sales highlights ongoing buyer interest in the market. Looking closer at the figures, thirty-five of these homes sold for over the asking price. This reflects strong demand, with many buyers willing to pay a premium to secure their purchase. Meanwhile, three homes sold exactly at the asking price. This suggests that these properties were accurately priced and well-positioned in the market.
On the other hand, ten homes sold for less than the asking price. This indicates that some sellers set prices slightly above market expectations. Interestingly, eight Glendale homes required price reductions before finally selling. This adjustment in pricing likely helped attract buyers and complete the sales.
The least expensive home sold was a two-bedroom, one-bathroom, 814-square-foot home at 1401 E. Maple. It sold for $720,000. The most expensive home sold was a five-bedroom, six-bathroom, 3,650-square-foot home at 1450 Royal Blvd. This luxury home sold for $2,800,000.
It is interesting to note that the price per square foot and the average and median selling prices decreased. Days on the market increased, and the absorption rate remains less than one month’s supply of listing inventory.
The average price per square foot ranged from $380.60 for a 6700 square foot home on Stephens Circle to an 831 square foot home located on Woodland Ave. It sold for $1,161.25 per foot.
