Enjoy a complimentary Glendale Real Estate Market Update for February 2018
This Month in Real Estate:
February saw less homes sold while home’s sale prices in the Glendale real estate market also went slightly down. The market had a total of 60 homes sold at a median price of $775,000. That compared to the sales price one year ago showed a significant increase of 19.6% in price. Sales price compared to last month however decreased by -1.8%. Also, the average sale price went for 99% of the original list prices suggesting listings have been generally priced a little above market. Compared to last month, this shows that home values saw an overall decrease in price and decrease in the number of homes in the market sold.
The average days to sell time on the market increased slightly to 54 days. The most important indicator for determining which type of market we are in currently is the average time it takes for the entire inventory supply of homes to sell. Anything below 4 months indicates a seller’s market, between 4-6 months is a balanced market, and over 6 months is a buyer’s market. Currently, we are still in a strong seller’s market. However, with rates going up we may see a shift to a more stable and balanced real estate market in the coming months.
Other City’s Average Median Home Values:
- In Los Angeles: $735,000
- In Mount Washington: $841,000
- In Eagle Rock: $1,058,000
- In La Crescenta: $965,000
- In Burbank: $761,000
- In Pasadena: $760,000
- In Studio City: $1,160,000
We hope you found this real estate market update for February 2018 helpful. Each month you will be provided with monthly real estate updates on the market. If you would like a more comprehensive free no obligation market evaluation text or call me at (818) 389-4465 today.