Glendale Traditional Sold in Six Days, 15% Over Asking!
Market remains strong, listed a lovely Traditional in Glendale(above), 2/2, 1292 sq ft, with a beautiful pool, $975K, 14 offers came in, in escrow within a week and sold 15% over asking. As long as interest rates stay low, demand will be high as the cost of carrying a loan makes buying at the higher price points tenable. Another interesting stat is that 82% of homes nationally sold in less than one month, according to the National Association of Realtors(NAR). Not surprising since inventory levels remain low. Key highlights for this month:
Nationally-Existing-home sales rose 0.8% in October from September to a seasonally adjusted annual rate of 6.34 million, sustaining the growth in sales in the prior month.
The median existing-home sales price increased 13.1% year-over-year to $353,900.
From one year ago, the inventory of unsold homes decreased 12% to 1.25 million – equivalent to 2.4 months of the monthly sales pace.
Locally stats are below, while we have slowed, compared to the last few months, sales are still strong with a robust pool of buyers