Mixed Signals in Glendale

Looking at the Median Sales Price monthly history in Glendale, and two things jump out at me:

  1. The chart slopes upwards from left to right, with the prices clearly increasing year after year. Feb ‘19 was up 10.9% YoY from Feb ‘18, which is a very large increase. We can also see that each February the median price has been higher than the prior year’s, so there’s no question which direction the number is trending.

  2. The highest median sales price in the chart was $259,900 in May ‘18. The chart shows plenty of zig-zags up and down along the way, but each time a new peak is reached, it is usually surpassed again within a couple-few months. The fact that the current peak was 10 months ago is a little disconcerting. Has the market begun losing steam?

I will be keeping my eye on Glendale in the 2nd quarter to see which observation turns out to be more accurate.

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- Chris Butterworth

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* All chart data represents single-family detached homes only. Information is believed accurate but not guaranteed.