Glendale Housing Update March 2019: Selling prices ranged from $633,000 for a two bedroom, one bath, 684 sq ft home on Irving Ave. to $2,030,000 for a four bedroom, three bath, 3,430 sq ft estate on 1205 Cortez Dr. Last month thirty Glendale homes closed escrow, two more than last month.
The average price per square foot was $560.44, average days on market was 42. The average Glendale, CA selling price was $1,086,913. Selling price to list price (average) was 100.63%. The median selling price was $1,047,500.
Thirteen of the Glendale homes sold for over asking price, fourteen sold for less and three at asking price. Six of these Glendale homes had a price reduction prior to selling. The absorption rate of 2.40% continues to reflect a very strong seller’s market.
Each year sales activity tends to increase in spring and summer typically slowing down in winter. Sales activity in the spring often increases by about one third while prices slightly increase. In contrast, the slowest months of closing activity are November, December, January, and February, with January often being the slowest. Once the weather improves, more buyers tend to look at homes. As these disparities are mostly due to seasonal variances, they don’t represent actual trends in the Los Angeles real estate market.