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Glendale Market Report, February 2011

Time to examine the Glendale Market Report for February. It is the question on most homeowner’s minds- how is the real estate market?

Teles Properties has a entire research department dedicated to detailed market research in our local markets.  This is very different from what you might read or see in the mass media.

Today we will talk about Glendale.  Click the following links for The San Fernando Valley, San Gabriel Valley, and the Greater Los Angeles.

 

 

February was a very interesting month for Glendale homes sales.  Prices took a pretty sharp tumble and that is not normal for February.  On the other hand, it takes more time to close an escrow, so we are seeing sales that started in November and December.  We need to keep a sharp eye on the next two months to see if this is a downward blip or a downward trend.

The great news is the huge change in the supply vs demand dynamic happening right now.  These numbers signal a really exciting opportunity for potential Glendale home sellers.  There was a huge bump in the number of homes that entered escrow signaling that buyers really want to buy.  At the same time there was a 20% drop in the number of homes available to sell.  Huge demand, limited supply- the smart money is on selling your home right now.

Wondering what’s on the market right now?  Here are the 5 latest listings in Glendale.

[idx-listings city=”Glendale” propertytypes=”513″ orderby=”DateAdded” orderdir=”DESC” count=”5″]

About Kendyl Young

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