Enjoy a complimentary Glendale Real Estate Market Update for October 2017
This Month in Real Estate:
October saw a decrease in number of homes sold while home’s sale prices in the Glendale real estate market up. The market had a total of 92 homes sold at a median price of $835,000. That compared to the sales price one year ago showed an increase by 14.1% in price. Sales price compared to last month increased by 9.9%. Yet, the average sale price slightly increased to 100% of list price. Compared to last month, this shows that home values saw an overall big increase in price with less homes in the market sold.
The average days to sell time on the market increased slightly to 48 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: $788,000
- In Mount Washington: $800,000
- In Eagle Rock: $678,000
- In La Crescenta: $877,000
- In Burbank: $768,000
- In Pasadena: $780,000
- In Studio City: $1,105,000
- In Shadow Hills: $679,000
We hope you found this real estate market update for October 2017 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.