Glendale Homes For Sale Market Comparison Report (February 2009 Vs February 2010)
We analyze several housing market indicators in order to present an in-thoroughness breakdown of Glendale Homes Market comparing February 2009 to February 2010.
Summary of meaningful Points
meaningful Statistics, Glendale, CA: Median Sales Price (113.16%), Median Days on Market (140.29%), and Number of Units Sold (-31.37%), Sales Price to List Price Ratio (Feb 09 95% – Feb 10 98%)
The City of Glendale has shown a very impressive recovery with the Median Sales Price shooting by the roof. Median days on market and number of units sold categories have suffered.Units sold typically are based on inventory obtainable. without of inventory reduces the units sold. Median days on market increases since a lot of short sales are involved and getting approvals from the lenders adds to the median days on the market.
The city of Glendale experienced a 113.16% increase in median sales price from last year going up from $335,863 (Feb. 09) to $715,922 (Feb. 2010). Median days on market data for Glendale show that houses are selling slower than Feb 09. It took 29 days in Feb 09 for a house to sell and for Feb 10 that number has gone up to 69 days (an 140.29% decline). Another important factor to consider is total number of units sold. In the month of Feb 09, 51 units were sold compared to 35 for Feb 10 (-31.37% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Glendale. SP/LP ratio for Feb 09 was 95% compared to 98% for Feb 10.
Let’s take a fleeting look at neighbors Burbank and West Hollywood. Burbank homes featured a 24.69% increase in median sales price ($476,991 Feb 09 – $594,740 Feb 10) and West Hollywood ca homes for sale saw a -2.11% decline ($870,000 Feb 09 – $851,667 Feb 10). Are houses in Burbank and West Hollywood selling faster or slower this year? Well, Burbank experienced a -12.58% decline (58 to 51 days) in median days on market and West Hollywood saw a -59.17% decline (80 to 33 days). In the units sold category, Burbank sold 8 units less (-24.24%) in Feb 2010 than 09 and West Hollywood sold 1 unit more (50.00%) in Feb 2010 than Feb 09.