Let’s look at the Glendale housing market stats for June 2022 and the changes in the last month. In June, 43 homes sold in Glendale. That’s a noticeable drop from 62 homes sold in May. This decline in sales activity suggests a potential cooling in buyer demand. At the same time, home prices have edged down slightly. The average sales price, price per square foot, and median price all dipped compared to the previous month. While these decreases aren’t dramatic, they reflect a market momentum shift.
However, the most significant change has been in the absorption rate. This metric measures how quickly homes are selling relative to available inventory. In June, the absorption rate rose, meaning homes stay on the market longer and buyers have more options. This increase could signal a turning point. For months, Glendale faced a tight inventory and heavy competition. Now, the rise in absorption rate suggests that the inventory shortage may be easing. More listings may be hitting the market, helping to balance supply and demand.
Overall, while the market remains active, we’re beginning to see signs of normalization.
The least expensive home sold was a three-bedroom, one-bathroom, 1,116-square-foot home located at 912 Osceola St., which sold for $925,000; the original list price was $750,000.
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