Glendale, CA - Real Estate Market Overview

In 2024, Glendale's real estate scene is exciting, with notable trends. The median home price hit $1.2 million in January. That's a big jump from last year¹.

This increase shows Glendale is on the rise, making it prime for investing in property.

Even with fewer homes sold than last year, the market is staying strong. Homes are selling fast, usually in just 31 days¹

These trends show a lot of people want to buy in Glendale. It's a great place for investors and buyers.

For a deep dive into Glendale's real estate, check out this detailed report.

Key Takeaways

• The median listing home price in January 2024 is $1.2 million ¹

• Home values in Glendale saw a 35.6% increase in February 2024 compared to the previous year ¹

• The average time on the market for homes is 31 days ¹

• The city's real estate market showcases a robust demand for properties ¹

• Glendale offers promising investment opportunities for real estate buyers ¹

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Current Housing Market Trends in Glendale

Lately, the Glendale housing market has seen big changes. These changes are in home prices, how long homes stay on market, and sales. It's important for buyers and sellers to understand these trends in the fast-moving real estate world.

Home Price Changes

Home sale prices in Glendale have gone up by 7.1% over the past year, showing strong growth¹. We've also seen a median sale price jump of $50,684 (4.6%) since June 2023, proving the market is climbing¹. By January 2024, the median list price for homes reached $1.2 million¹, signaling a competitive real estate market. From August to December 2024, real estate prices slowly rose, starting at $955,127 and reaching $964,409². The price is expected to be $967,062 in January 2025², showing steady price changes in Glendale.

Time on Market

In Glendale, homes tend to sell in about 17 days currently, showing fast deals and consistent buyer interest¹. This speed has stayed the same as last year, indicating ongoing strong interest in Glendale homes.

Sales Volume

The number of homes sold has slightly decreased, from 75 to 74 year-over-year¹. Yet, the market stays strong with many properties being listed and sold. Projections say open prices might hit $1,082,507 by August 2029².

The housing market in Glendale is rapidly changing. We're seeing big rises in prices, steady selling times, and detailed sales data. These details are crucial for those thinking of buying or selling in this area.

Median Home Prices in Glendale, CA

In June 2024, Glendale's median home price hit $1.2M. This shows a steady yearly growth, suggesting that house values in the area are going up. This makes the Glendale housing market more attractive³. Last month, the median home value in Glendale jumped by 111.5%. This indicates strong growth in how much homes are worth³.

The College Hills neighborhood in Glendale is also seeing prices go up. Here, the middle price for a home is $1,480,000. The area is known for its lovely homes and has an average price of $770 per square foot. It's a place where people are quite well-off, with a median income of $100,104³. You can learn more about this area by visiting the College Hills neighborhood page. It offers detailed information on the real estate market there³.

Glendale's housing market stays competitive because many people want to live there. From April to June 2024, 71% of home buyers looked to stay in Glendale. Meanwhile, 29% considered leaving. This shows that most people prefer to stay in the area, even as home prices rise³.

Comparison of Glendale Home Prices with Nearby Cities

Comparing Glendale's real estate to nearby cities is key. This shows how Glendale stands out and its potential for investors and buyers.

Pasadena

Glendale and Pasadena have different market trends. Glendale's home price growth is 4.6%, less than Pasadena's 12.0%³. Yet, Glendale's median sale price jumped to $1.1M last month³, showing its market strength compared to Pasadena's higher growth.

La Crescenta

La Crescenta's home price growth is 8.3%³. It's between Glendale and Pasadena in market growth. This means both Glendale and La Crescenta are doing well, topping the area's average growth of 6%⁴.

Burbank

Burbank's home prices grew by 3.2%³. This growth is lower but shows Glendale's market is still strong. Glendale's property costs $550 per square foot, above the $500 regional average⁴.

Glendale's real estate is doing well compared to Pasadena, La Crescenta, and Burbank. Its home prices are growing strong, showing its good market position.

Inventory and New Listings in Glendale

The home inventory in Glendale gives us important clues about the housing supply. In June 2024, the homes for sale slightly decreased by 2.3%. This move from 258 listings in May to 252 in June means more competition for buyers⁵.

Current Inventory

The Glendale market saw interesting shifts in home types. For instance, one-bedroom homes dropped by 9.5%. Yet, the supply of homes with five or more bedrooms grew by 16.7%. This change shows a wider range of housing options⁵.

New Listings Trends

New listings in Glendale showed a small rise. By June's end, there were 89 new listings. This indicates a steady flow of properties for sale. It's crucial info for anyone looking to buy or sell in Glendale⁵.

Is Glendale a Buyer’s or Seller’s Market?

Glendale is currently a seller's market. This means that houses often sell for more than the asking price. About 61.8% of homes sell above their listed price. This shows how competitive and limited the market is. The Glendale buyer's guide offers insights for those looking to buy in this tough market.

Home prices in Glendale have risen, now averaging $1,034,634⁶. Listings increased by 22.5% from April to June 2024⁷, but prices remain high. The ratio of list price to sold price has slightly dipped from 103.8% to 102.8% in one year⁷. Sellers still have a strong advantage. With only 1.8 months of inventory available⁷, Glendale's market demands strategic thinking from sellers.

Price Trends by Home Type and Bedroom Count in Glendale, CA

The prices in the Glendale real estate market vary a lot. This depends on the number and type of bedrooms in a home. It's key for buyers and sellers to understand these price changes in Glendale.

One-Bedroom Homes

Recently, the median price of one-bedroom homes in Glendale went up by 3.1%. This matches the larger pattern in Los Angeles County, where those homes cost about $550,000⁸. According to CoreLogic data, there's a steady rise in home prices across the country, including Glendale⁹.

Two-Bedroom Homes

Two-bedroom homes in Glendale saw their prices rise by 6.7%. This is shown by the higher average listing prices in Glendale, fitting the wider trend in Los Angeles County. Here, the median price for two-bedroom homes is about $750,000⁸. This confirms that property size heavily influences valuation.

Three-Bedroom Homes

Three-bedroom homes are also more valuable now, following the same trend in the area. The median price for these homes in Los Angeles is $930,000. Glendale shows similar increases, pointing out how the number of bedrooms affects prices⁸.

Four-Bedroom Homes

Prices for four-bedroom homes in Glendale jumped by 12.7%. This rise shows the strong market demand and the scant supply of large homes. Overall, the rise in median home prices in Southern California for homes with four or more bedrooms has reached $1.85 million⁹.

Five or More Bedroom Homes

Homes with five or more bedrooms saw a price jump of 10.1%. This increase highlights the significant value of larger homes in Glendale, mirroring trends in Los Angeles County. The average listing price in Glendale, especially for large homes, is now $1,579,750⁸.

Glendale Housing Market Forecast in Glendale, CA

The Glendale housing market forecast promises exciting opportunities for both investors and homebuyers. Key figures like the sale to list ratio and median list price point to growth. Last year, Glendale saw impressive sales totaling $310,000,000 with individual properties averaging $435,549¹⁰. Also, a low vacancy rate of 2.9 percent shows properties are in high demand¹⁰. These stats highlight a strong future for the area's real estate.

Glendale's market looks even better when you consider the rental side. Rent prices increased by 4.7 percent in the second quarter of 2022. Now, the average monthly rent is around $2,240¹⁰. Plus, with 260 units being built to add to the 103 completed this year, investment continues to boom¹⁰.

For those looking to invest, Glendale's numbers are compelling. Average sales for multifamily homes sit at $5.4 million¹⁰. And a notable sale saw an 80-unit building go for $48 million in 2022, spotlighting big investment moves¹⁰. Such deals show the potential for great returns in Glendale's market.

Buyers and investors need to keep a close eye on market changes. They must look at data from sources like the SFAR MLS and MLSListings Inc. This information, though reliable, comes with no guarantees¹¹. Being informed will help in spotting and seizing the right investment chances.

Strategies for Buying in a Competitive Market in Glendale, CA

In Glendale's competitive market, knowing how to buy is key. To win your dream home, you must be smart. Many properties sell in less than 30 days. So, you need to act fast and negotiate well[Source].

Acting Quickly

The average property in California sells in just 8 days. Be ready to act fast when you find the right home¹². Get your financing ready early. This lets you make a strong offer right away. Keep up with new listings to move quickly.

Negotiating Deals

Many Glendale homes sell for more than their listed price. This shows how key negotiation is. Know the market and make your offer stand out¹². Being flexible and working with locals can help you get a good deal.

Factors Contributing to Glendale’s Real Estate Market

Glendale's real estate market shines thanks to its strong local economy and unique community charms. These elements draw both homebuyers and investors to the area. Glendale stands out as a great place to live.

Local Economy

Glendale’s economy drives its real estate market forward. The city is home to booming entertainment, healthcare, and tech industries. These sectors create many jobs, increasing the need for homes¹³. Sunland/Tujunga is getting noticed for investment opportunities that could lead to high returns¹⁴.

Glendale also offers excellent transportation, with easy highway access and several public transit options¹³. This makes it perfect for commuters and businesses. The city’s expected economic growth makes it an attractive real estate market¹³.

Community Features

Glendale’s neighborhoods like Rossmoyne have beautiful, historic looks and a tight-knit community feel¹⁴. La Crescenta offers top schools and quiet, mountainous areas while keeping you close to city life¹⁴. Glendale has many different types of homes which meet various needs¹³. This variety, along with the value of community, keeps demand high and supply low. It helps the local real estate market stay strong.

Luxurious living options, such as condos at the Americana at Brand, draw people looking for fancy features and service¹⁴. All these factors, plus constant demand for homes, make Glendale a bustling real estate scene for both selling and buying.

Conclusion

The Glendale real estate scene is active and competitive. This report breaks down the details. It looks at rising home prices and good selling conditions. It also offers tips for buyers. It shows a market that needs careful study and wise choices. This Glendale market summary gives a clear view of current trends and future predictions.

Even with high mortgage rates and slow job growth, Glendale's property prices stay strong. Investors should act fast and with a plan to make the most of this seller's market. Our detailed analysis shows the real estate scene is complicated but full of opportunities¹⁵¹⁶.

Knowing about the market, like inventory and price changes, is key for a good investment. It's very important to talk with experts for advice that fits your financial situation and goals. The Glendale market summary and the outlook on the broader property market underline the importance of planning and expert advice. This ensures your real estate investments are successful and safe¹⁵¹⁷¹⁶.

FAQ

What are the current home price changes in Glendale, CA as of June 2024?

In June 2024, home prices in Glendale, CA went up, reaching a median of $1.2M. This is a 4.6% increase from last year. It shows that home values are steadily climbing.

How does the time on market for homes in Glendale compare to previous years?

Homes in Glendale are selling fast, staying on the market for about 31 days by June 2024. This speed matches the past pace, showing a strong and lively market.

Has there been a change in sales volume in Glendale's real estate market?

Yes. The number of homes sold slightly dropped to 74 in June 2024 from 75 the year before.

What is the median home price in Glendale, CA?

The median home price in Glendale, CA is around $1.2M as of June 2024.

How do Glendale home prices compare to nearby cities?

Glendale's home price growth of 4.6% compares well with nearby cities. Pasadena grew by 12.0%, La Crescenta by 8.3%, and Burbank by 3.2%. Glendale holds its own in the area.

What trends are seen in Glendale's home inventory and new listings?

In June 2024, Glendale saw a small decrease in homes for sale, going from 258 to 252 listings. Yet, new listings rose with 89 homes added by the end of June.

Is Glendale considered a buyer’s or seller’s market?

Glendale is a Seller's Market. Homes often sell for more than the list price. Buyers might have to compete in this environment.

How do home prices vary by type and bedroom count in Glendale?

Home prices in Glendale vary by size. One-bedroom homes increased by 3.1%. Two-bedroom homes went up 6.7%, and four-bedroom homes saw a 12.7% increase. Homes with five or more bedrooms went up by 10.1%.

What is the forecast for Glendale's housing market?

The Glendale housing market looks to keep growing. With prices rising and demand strong, investors and home buyers should stay alert to changes.

What strategies should buyers consider in a competitive market like Glendale?

Buyers should move quickly in Glendale's competitive market. Many homes sell in less than 30 days, often for more than the asking price.

What factors contribute to Glendale’s real estate market strength?

Glendale's real estate strength comes from its vibrant economy and community amenities. These aspects keep demand for homes high, making Glendale appealing to both investors and residents.

Source Links

1. Glendale Real Estate Market Overview - 2024 - https://www.steadily.com/blog/glendale-real-estate-market
2. Glendale Real Estate Forecast, Housing Market Prediction: up to 978397 USD! - Glendale City Real Estate Market Forecast 2023-2033, Long-Term & Short-Term Property Home Price Prediction with Smart Technical Analysis - https://walletinvestor.com/real-estate-forecast/ca/los-angeles/glendale-housing-market
3. 76 Glendale Gulch Rd, Jamestown, CO 80455 - https://www.redfin.com/city/32900/CO/Glendale/housing-market
4. Cost of Living in Glendale, CA | Flyhomes - https://flyhomes.com/cost-of-living/glendale--ca
5. Complete House Renting Guide For Glendale, CA - 2024 - Ark7 - https://ark7.com/blog/learn/cities/complete-house-renting-guide-for-glendale-ca/
6. Highest Appreciating Glendale Neighborhoods (last 5 years) - https://www.neighborhoodscout.com/ca/glendale/real-estate
7. June 2024 Real Estate Market Infographic Altadena, Burbank, Glendale, La Crescenta, La Cañada Flintridge, Montrose, Pasadena, Shadow Hills, Sunland, - https://www.linkedin.com/pulse/june-2024-real-estate-market-infographic-altadena-burbank-keith-sorem-btdpc
8. Glendale, CA Real Estate & Homes for Sale | realtor.com® - https://www.realtor.com/realestateandhomes-search/Glendale_CA/pg-3
9. Los Angeles Housing Market 2024: Trends and Predictions - https://www.noradarealestate.com/blog/los-angeles-real-estate-market/
10. Multifamily Market Report | Glendale, CA - https://www.matthews.com/multifamily-market-report-glendale-ca/
11. Glendale Housing Market | Home Prices & Trends - https://flyhomes.com/housing-market-analysis/glendale--ca
12. California - FortuneBuilders - https://www.fortunebuilders.com/california-real-estate-market/
13. Glendale’s Real Estate: A Vibrant Market for Homebuyers - https://medium.com/@etreehomes/glendales-real-estate-a-vibrant-market-for-homebuyers-d11826820835
14. Best Neighborhoods To Invest In Glendale, CA - https://ark7.com/blog/learn/cities/best-neighborhoods-to-invest-in-glendale-ca/
15. Why You Need a Realtor in Glendale, CA - https://medium.com/@citations.sammerreality/why-you-need-a-realtor-in-glendale-ca-c0c39364edc5
16. Southern California - https://www.windermere.com/market-update/southern-california
17. Virtual Tour Available: 3270 E Chevy Chase Dr - https://www.lahomes.com/glendale/

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