December 8, 2011
By Phyllis Harb
36% of Glendale home sales were foreclosures or short sales
In our current real estate market, homes in move in condition command a premium. Note that the average prices for Glendale’s standard sales are higher than for the short sales and foreclosures.
|
Glendale – By The Numbers – YTD 2011 |
|
|
Month |
# Sold Homes |
Avg. Price per Sq Ft |
DOM
|
Avg. Sale Price |
SP % LP |
# of Short Sales |
# of REOs |
Absorption Rate |
|
January |
30 |
$318.52 |
80 |
$539,517 |
96.43% |
10 |
9 |
|
|
February |
20 |
$325.65 |
75 |
$620,517 |
95.17 % |
4 |
3 |
|
|
March |
43 |
$324.89 |
70 |
$708,674 |
98.03% |
8 |
4 |
|
|
April |
41 |
$330.40 |
75 |
$600,768 |
97.04% |
5 |
10 |
4.12 |
|
May |
43 |
$321.72 |
79 |
$571,080 |
97.52% |
13 |
7 |
3.77 |
|
June |
45 |
$344.36 |
78 |
$661,856 |
96.77% |
11 |
3 |
3.8 |
|
July |
40 |
$354.06 |
53 |
$598,461 |
98.56% |
4 |
6 |
4.63 |
|
August |
44 |
$318.12 |
73 |
$631,120 |
95.56% |
12 |
7 |
4.16 |
|
September |
38 |
$308.07 |
75 |
$623,355 |
97.57% |
7 |
8 |
4.61 |
|
October |
38 |
$345.55 |
70 |
$631,587 |
97.54% |
6 |
4 |
4.18 |
|
November |
42 |
$325.57 |
73 |
$557,588 |
96.57% |
8 |
7 |
3.81 |
Many Glendale homebuyers are making down payments of 20% and they don’t typically have the funds remaining for remodeling and fixing. As people who are losing their home don’t often keep up with routine home maintenance short sales usually have more deferred maintenance than standard sales. And with foreclosures the lender often does a cheap rehab or the home is in distressed condition.
|
Glendale – By The Numbers – YTD 2011 – Short Sales |
|
Month |
# Sold Homes |
Avg. Price per Sq Ft |
DOM |
Avg. Sale Price |
SP % LP |
% of Market Share |
|
January |
10 |
$300.62 |
68 |
$493,100 |
95.71% |
33% |
|
February |
4 |
$253.47 |
90 |
$633,750 |
94.10% |
20% |
|
March |
8 |
$291.15 |
107 |
$525,000 |
98.12% |
19% |
|
April |
5 |
$301.46 |
91 |
$516,000 |
95.41% |
13% |
|
May |
13 |
$334.53 |
80 |
$550,000 |
99.10% |
30% |
|
June |
11 |
$315.24 |
52 |
$583,409 |
97.47% |
24% |
|
July |
4 |
$299.92 |
55 |
$651,250 |
104.91% |
10% |
|
August |
12 |
$294.67 |
95 |
$489,333 |
97.25% |
27% |
|
September |
7 |
$315.89 |
80 |
$585,429 |
99.55% |
18% |
|
October |
6 |
$335.71 |
108 |
$416,883 |
100.18% |
16% |
|
November |
8 |
$306.60 |
114 |
$484,000 |
95.58% |
19% |
|
Glendale – By The Numbers – YTD 2011 – REOs |
|
Month |
# Sold Homes |
Avg. Price per Sq Ft |
DOM |
Avg. Sale Price |
SP % LP |
% of Market Share |
|
January |
9 |
$286.94 |
61 |
$458,756 |
96.47% |
30% |
|
February |
3 |
$239.53 |
82 |
$612,111 |
90.47% |
15% |
|
March |
4 |
$328.42 |
46 |
$632,250 |
105.21% |
9% |
|
April |
10 |
$296.31 |
63 |
$523,700 |
97.08% |
25% |
|
May |
7 |
$256.42 |
73 |
$423,711 |
96.74% |
16% |
|
June |
3 |
$386.41 |
70 |
$526,667 |
97.30% |
7% |
|
July |
6 |
$322.37 |
53 |
$457,000 |
98.90% |
15% |
|
August |
7 |
$266.13 |
52 |
$580,271 |
96.36% |
16% |
|
September |
8 |
$305.20 |
50 |
$545,375 |
103.29% |
21% |
|
October |
4 |
$278.36 |
29 |
$409,250 |
99.54% |
11% |
|
November |
7 |
$309.16 |
49 |
$557,700 |
99.91% |
17% |
|
Glendale – By The Numbers – YTD 2011 – Standard Sales |
|
Month |
# Sold Homes |
Avg. Price per Sq Ft |
DOM |
Avg. Sale Price |
SP % LP |
% of Market Share |
|
January |
11 |
$360.63 |
107 |
$647,791 |
96.90% |
37% |
|
February |
13 |
$367.73 |
69 |
$618,385 |
96.66% |
65% |
|
March |
31 |
$333.14 |
64 |
$765,935 |
97.31% |
72% |
|
April |
25 |
$351.92 |
78 |
$663,380 |
97.53% |
62% |
|
May |
23 |
$334.94 |
79 |
$627,846 |
96.91% |
54% |
|
June |
31 |
$357.95 |
77 |
$719,032 |
96.70% |
69% |
|
July |
30 |
$371.05 |
53 |
$621,915 |
97.48% |
75% |
|
August |
25 |
$343.92 |
68 |
$713,416 |
94.84% |
57% |
|
September |
23 |
$306.63 |
82 |
$662,022 |
95.54% |
61% |
|
October |
28 |
$357.25 |
68 |
$709,357 |
97.06% |
74% |
|
November |
27 |
$335.45 |
66 |
$579,363 |
96.02% |
64% |
