Let’s dive into the Glendale real estate market for September 2023. The number of sales went down to twenty-eight, but the average days on the market jumped. The least expensive home sold in Glendale was a two-bedroom, one-bathroom, 1,008-square-foot home located at 1131 Sonora Ave. Initially listed for $899,000 and sold for $800,000 in thirty-three days. The most expensive home sold was a four-bedroom, three-bathroom, 3,225-square-foot located at 1114 E. Mountain St. This 1927 Spanish was initially listed for $2,595,000 and sold in seven days for $2,902,825.
Fourteen homes sold over the list price. Four sold at the list while ten sold for less than asking.
Price per square foot varied. On the high end was a two-bedroom, one-bath home on Buckingham selling for $1231 per foot. On the low end was a 3,460-square-foot home in Glendale’s Glenoaks Canyon on Sleepy Hallow. It sold for just $535 per foot.
Reasons why it remains a strong Glendale seller’s real estate market for September 2023 and likely beyond:
- Interest rates have more than doubled in just a few years, greatly reducing affordability.
- One-half of last month’s sales went over the asking price. 14% sold at the list price.
- Inventory remains low as most homeowner don’t want to give up their low-interest rate mortgages.
