Glendale Real Estate Report March 2020

Glendale Property

Glendale home sales in February 2020 held steady in numbers and new listings, year to year, though prices registered a 5% decrease over the same period.

While the number of Glendale homes sold in February 2020 increased by 1 from the previous February, 55 from 54, that number represented a decrease from the 64 in January 2020.  The number of new listings was a similar scenario 88 in February 2020 and 89 in 2019, though only 71 in the previous month of 2020.  Average days on the market decreased year to year, from 56 in February 2019 to 53 in February 2020 and increased month to month, from 47 in January 2020.

The February $825,062 average sale price in Glendale decreased by over 5%, year to year, from $868,551 the previous February and by almost 2% from $841,624 from the previous month in 2020.   Of the February 55 sales, 25 were single residences, 8 were townhouses and 22 were condominiums.   The lowest price sale $379,000 was for a 1 bedroom, 1 bathroom upgraded, Somerset condominium after 28 days on the market.   $743,000 represented the median sale price for an Adams Hill 3 bedroom, 3 bathroom single residence.  This tenant-occupied, short sale property sold in 58 days for around 13% under the list price.  At the high end of the market, a 4 bedroom, 4 bathroom gated, Chevy Chase Estates home on ¾ acre sold for $2,075,000, $100,000 below asking price in 187 days.

As of later March, there are 91 homes listed on the MLS for sale in Glendale – 54 single residences, 8 townhomes, 27 condominiums and 2 duplexes.  The lowest property being offered is an updated studio condominium in the Somerset area for $299,999.  With monthly homeowners’ dues of $224, it’s been on the market for only 7 days.  $1,659,000, marking the midrange in Glendale active homes for sale, is the asking price for a 4 bedroom, 5 bathroom updated contemporary home on nearly a 1/3 acre in the Verdugo area.  Originally priced at $1,654,000, this property has been on the market for 41 days.  At the top of the price range, a 4 bedroom, 5 bathroom Chevy Chase view home with separate guest house on well over 2 acres is being offered for a reduced price of $2,999,999 after 114 days on the market.

To see the current and past year-to-date statistics for market activity in Glendale, click on the report snapshot image or here to view the full report

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