January Northwest Glendale Homes and Condos Sales Report

Today starts an ongoing series of statistics for Glendale Homes Sales and Above the 134.  I will add to the chart each month so you, my little chitlins, can gain some perspective on what is truly going on in your corner of the world.

Let’s start (as always) with Northwest Glendale homes.  Last year we saw a firm hold on value until the last 3 months, when our prices started to slip.

Our median and average sales prices are significantly lower than in months past.  This means that more lower priced homes are selling while the $700,000 and up are not doing as well.  5.8 months of inventory means that it is a fairly balanced market, trending toward a buyers market.  I know the buyers out there think that they call all the shots and have all the power, but they don’t have it all in Northwest Glendale homes.

Northwest Glendale Condo sales are NOT dead.  In fact, these units represent some of the best opportunities for small investments and savvy buyers have been snapping up the best ones.  Sadly, I expect this inventory to rise rapidly in the coming weeks.  A larger number of risky Glendale home loans were written on condos and townhomes and the next wave should start foreclosing in about 2 more months.