Glendale has solidly been a seller’s market for single family homes in 2016. It remains strong, but there are signs that it is cooling off now in Q3, especially in the upper price ranges.
Traditionally, the third quarter of the year is a slow time for the greater Phoenix real estate market. Snowbirds have not made their annual migration to Arizona yet and parents who have moved for schools are already situated. Mix in a contentious presidential election cycle and some buyers may just want to sit this round out.
The chart above illustrates median price movement of active listings over the past three calendar years for each of the four quartiles of single family housing in Glendale (top, upper, lower and bottom).
The average sold price of a home in Glendale (all quartiles combined) is $236,127. The median home sold price is $212,500.
The good news is that there is only a 2.3 months supply of single family housing inventory in Glendale right now. Less than 4 months supply is considered healthy.
I am a marvelous housekeeper. Every time I leave a man I keep his house. – Zsa Zsa Gabor, Hungarian-born American actress and socialite