• calendar_month October 28, 2022
• folder Absorption Rate

Now more then ever it's critical to keep a close eye on the real estate market, not only as a whole but site specific as the market is different for ever zip code. It’s not secret that over all in California we have a major housing crisis and supply is no where near the demand but some cities are more in demand than others. Glendale, CA is definitely one of those cities.

Today we have 74 single family homes on market at a median list price of $1,399,450 which is a median price per sqft of $824. Although the month is not over just yet in October to date we have 36 homes sold at a median list price of $1,387,000 with an average of only 14 days on market. In September we had a total of 44 homes sold. With an absorption rate of 49% we are well over the 20% threshold of a health market and despite the noise of a crashing doomed market due to rising interest rates Glendale, CA seems to be unaffected and very active.