Glendale

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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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

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

 

Glendale homes sitting on market longer

We’ve seen recently that prices in Glendale have continued to rise over the last few years. However, comparing February’s sales activity with the last few Februarys’ shows a sobering trend - the median number of days on the market for February sales has risen from 45 in Feb ‘16 to 51 days last month.

A modest 13% increase over the course of 3 years can’t be considered a “market slowdown”, especially since prices have increased during that time frame. However, it’s definitely something to be aware of and to keep our eyes on.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

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

 

2018 Median Sales Price for Select Cities

This chart is a recap of the last month’s charts, showing a comparison of the various cities’ median sales prices for 2018. It’s interesting to see the variance among the cities, yet notice that even with all the ups and downs, the difference between the lowest and highest is only $83,500*.

* Not included is Scottsdale, because the $570,000 median sales price there was so high it made the chart much less impactful by comparison.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

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

 

Glendale Prices up 7% in 2018

Glendale’s median sales price was $245,500 in 2018, up 6.7% from 2017’s median price of $230,000, and up 40% from the $175,000 median sales price in 2014.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

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

 

2018 Sales Volume by City

The chart above is sorted by sales volume. Below, I’ve taken the same chart and sorted the cities alphabetically. You can decide which one works best for you.

AZ 190111 - all cities vol by city.jpg

Phoenix is far and away the leader of the Greater Phoenix Area, with 3-10 times (or more) the number of sales as most other suburbs. Mesa is the 2nd largest suburb, followed by Scottsdale, Gilbert, Chandler, and Glendale.

You’ll notice the East Valley cities typically have more volume than their West Valley counterparts, but there are also more West Valley cities dividing up the land. Overall the sales volume in the East and West Valley is fairly similar.

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- Chris Butterworth

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Simple MLS Charts is supported by readers like you. If you find these charts useful, please consider becoming a patron with a small monthly pledge on Patreon.

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