**Updated for June 2019**
It is time for the Glendale Ca real estate market report. What happened in June 2019 and where is the market trending?
GLENDALE REAL ESTATE MARKET REPORT
Glendale CA Single Family Market
Inventory and sales are up, but… There is 17.6% more inventory on the market than there were last year and 9.1% more than last month. There were 3.2% more single-family homes sold in June compared to last month. BUT – the number of sales is nearly 10% lower than last year. The number of new contracts opened is down by 15% which means sales will drop next month and probably the month after that.
It’s still a seller’s market for single family homes in Glendale CA – but it’s getting softer. There is 1.8 months supply of inventory (MSI) – last year (and last month) we had 1.4 MSI. This means the market soften by nearly 30%.
Sale Prices are slightly lower than last year, but the average price per square foot is a little bit higher. This means home values are holding steady, but larger, more expensive homes are getting more difficult to sell.
Glendale CA Condo Market
Inventory and sales are up from last month and last year. There are 69% more condos on the market in June than there were last year. However, there are also more condos selling than last year – about 20% more.
It’s still a seller’s market for condos in Glendale CA – but it is getting softer. There is 1.6 months supply of inventory (MSI) – there is still a shortage of available inventory but YoY (year over year) the MSI has soften by 32%.
Prices are level, but buyers are resisting high priced listings – There has been an increase in asking prices, but a decrease in sales prices in the last few months. It looks like buyers are snapping up lower priced units and ignoring the higher priced ones.
LA CRESCENTA REAL ESTATE MARKET REPORT
La Crescenta Single Family Market Stats
Inventory is down and sales are up – the race to get settled before the start of the new school year is ON. The number of sales doubled from last month and inventory dropped by 23%. BUT – the market is not as robust as it was last year. Year over Year our month’s supply of inventory grew by 42%.
It’s still a strong seller’s market – saying that our MSI grew is basically like saying we’ve gone from a ridiculously strong seller’s market to a really strong seller’s market.
Prices are down – ever so slightly compared to last year. Prices are up compared to last month.
LA CANADA REAL ESTATE MARKET REPORT
La Canada Single-Family Market Stats
Inventory and Sales are down – between 5% – 6% compared to last month as well as last year. However, the number of new contracts open rose by nearly 13%
It’s still a seller’s market – but months supply of inventory is creeping up, 2.7 MSI vs 2.3 MSI last year.
Prices are inconclusive – Median and average sold prices are up from last month, but the average sold price is down 8.1% from last year.
SUNLAND/TUJUNGA REAL ESTATE MARKET REPORT
Sales are slipping after a strong few months of sales in Sunland/Tujunga. The number of homes sold fell 17% from last month, though sales are equal to last year. I remain bullish on this area’s future!!
Are you thinking of buying or selling?