Let’s dive into the Glendale Real Estate Update for February 2025. Twenty-four homes closed escrow last month. Twelve of these homes sold over the asking price, two at the asking price, and ten below it. Three Glendale homes sold under $1,000,000. Five homes sold in the two millions, and one over three million.
A four-bedroom, three-bathroom home at 1465 Royal Blvd. sold for $1,196.71 per foot. This luxury home also set the record as the most expensive home sold in Glendale for February 2025, listed for $2,350,000 and sold way over asking for $3,200,000. On the flip side, a three-bedroom, two-bedroom home at 2516 Glenoaks Blvd. sold for $590.75 per foot. The least expensive home sold in Glendale was a two-bedroom, one-bathroom, 778-square-foot home located at 1600 The Midway St. It was listed for $775,000 and sold in twenty-one days for $800,000.
The absorption rate measures how quickly homes sell. In Glendale, it is 2.46%. If no new listings appear, the current inventory will sell in about two and one-half months. A seller’s market occurs when the absorption rate is under five months. Demand exceeds supply, giving sellers the advantage. They can ask for higher prices and often receive multiple offers. Buyers face more competition and must act quickly.
A balanced market has an absorption rate between five and six months. Supply and demand are equal, creating fairer negotiations. A buyer’s market occurs when the absorption rate is over six months. More homes are available than buyers need, and buyers gain leverage. Sellers must adjust prices and marketing to attract offers.
