Understanding real estate market trends is crucial for buyers, sellers, and property owners to make informed decisions. The Glendale 91208 housing market offers a dynamic and evolving landscape, as evidenced by the fluctuating statistics from February to March 2024. By analyzing these statistics, stakeholders can gain insights into market conditions, price trends, and selling times. This post delves into the recent changes within this vibrant market, comparing data from the past 30 days of February and March 2024. Don’t miss all the Glendale homes for sale at the end of the post.
February 2024 Market Statistics
- Current Active Listings: 11
- Indicating a moderate level of inventory in the market.
- Median Listing Price: $1,495,000
- Suggests a relatively high-value market area.
- Median List Price per Square Foot: $756
- Reflects the area’s property values and demand.
- Total Homes Sold: 6
- Shows the number of transactions that took place.
- Median Sold Price: $1,469,000
- Indicates the market’s pricing trend for sold properties.
- Average Market Time: 45 days
- This reflects the time when properties typically stayed on the market before sale.
March 2024 Market Statistics
- Current Active Listings: 9
- A slight decrease in inventory, potentially indicating higher demand or lower supply.
- Median Listing Price: $1,395,000
- A decrease from February suggests potential price adjustments or different property types coming to market.
- Median List Price per Square Foot: $793
- An increase implies that properties might be more valuable or in higher demand.
- Total Homes Sold: 4
- Fewer sales than in February, which could be due to various market factors.
- Median Sold Price: $1,675,000
- A significant increase is pointing towards a market favoring sellers or the sale of higher-valued properties.
- Average Market Time: 14 days
- A substantial decrease indicates a faster-moving market and potentially higher buyer competition.
Comparative Analysis: March vs. February
The Glendale 91208 market in March 2024 shows notable differences from the preceding month. While there is a slight reduction in the number of active listings, the median listing price has decreased. This could indicate market adjustments or different types of properties being listed. Notably, the median list price per square foot has risen, suggesting an increased demand for properties or higher-value properties entering the market.
Despite fewer total homes sold in March, the median sold price has seen a significant uptick. This could signal a trend where higher-priced properties are sold or a market shift toward sellers’ favor. Perhaps the most striking change is the decrease in average market time, from 45 days in February to just 14 days in March. This rapid pace could indicate increased buyer competition and a more aggressive market.
These statistics are invaluable for stakeholders in the Glendale 91208 area. Given the higher median sold prices and quicker sales times, sellers may find it an opportune time to list. Buyers, meanwhile, should be prepared for a competitive market, possibly facing higher prices and needing to make quicker decisions. Property owners can glean insights into property values and market dynamics, assisting in future planning and decision-making.
In conclusion, the Glendale 91208 real estate market presents a varied and evolving landscape, with changes from February to March 2024 highlighting demand, pricing, and market velocity shifts. Understanding these trends is key for buyers, sellers, and property owners to navigate the market effectively.
Glendale 91208 is a stunning neighborhood offering quaint streets, panoramic views, and many character homes. However, Glendale is a large, diverse City with various pocket communities. Discover all the homes for sale in Glendale, California. If one piques your interest, be sure to message me right away. Robbyn Battles 818-388-1631
Homes for Sale in Glendale 91208 (sorted by price high to low)
Sorry we are experiencing system issues. Please try again.
Discover all the Glendale homes for sale. (Sorted by listing date)
Sorry we are experiencing system issues. Please try again.