Let’s dive into the Glendale Real Estate Update for April 2024. Thirty-nine homes closed escrow last month. Quite a jump from March. Twenty-three of these homes sold over the asking price, five for the asking price, and eleven below asking. A four-bedroom, three-bathroom home at 1512 Glenwood Dr sold for $533.23 per foot. A two-bedroom, one-bathroom home at 708 S. Cedar St sold for $1,121.40 per foot.
The absorption rate is the lowest year to date. This reflects a very unhealthy market greatly favoring Glendale home sellers. The least expensive home sold in Glendale was a one-bedroom, one-bathroom, 728-square-foot home located at 728 Luna Dr. Listed for $749,900. It sold in fifty-three days for $725,000. The most expensive sale was a five-bedroom, four-bathroom, 5,085-square-foot home at 1964 Starvale Rd. Listed for $2,999,000 and sold in seventeen days for $3,130,000.
In examining the Glendale real estate market for April 2024, it’s interesting to note how long it takes to sell. The average days on the market was 32. Four Glendale homes sold off the market (zero days on the market), and another seven sold in less than ten days. Three homes took more than 100 days to sell.
Just four of the Glendale home sales were under $1,000,000. While six sales were over $2,000,000.
