Coldwell Banker: Glendale Market Update

Housing inventory has been building up slowly since the beginning of the year. There were 131 homes for sale last month, a roughly 8% increase from 121 in September 2013, while condos saw a heftier rise, going from 53 a year ago to 72 last month, an almost 26% hike.The average listing price for Glendale homes for sale was $999,000 for the week ending October 24, which represents more than 10% increase compared to previous quarter. Glendale market experienced total of 9 price increases and 52 price reduction during the month of September.

The median price for single-family home in Glendale jumped by more than $76,000 compared to a year ago. The median price for a home was $798,000 last month, up from $723,000 in September 2013. Average sales price per Sq. Ft. for Glendale was $419 per sq. ft., an increase of 11.5% compared to the same period last year. The median price for a condominium also rose from $340,000 in September 2013 to $380,000 last month.

The number of homes sold declined from 581 in September 2013 to 525 (10% decrease in units sold) last month, while the number of condos declined, from 379 last year to 329 last month (13% decrease in units sold).

By: Aram Djagharbekian

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