What is the median price for a home sold in Glendora for June?
If you’re thinking about selling your home, it's important to have a good understanding of what’s going on in the local market.
Knowing the most important data such as the average sales price, number of homes sold, and days on market will better prepare you to sell your home.
My monthly market updates showcases everything you need to know about local real estate trends.
How do you know when we've hit the bottom of the market?
A few months ago I posed the question below.
Question: How do you know when we've hit the bottom of the market?
Answer: When it's already past us
Based on the data, I think we are on our way back up from a temporary bottom.
The extremely low inventory is keeping our market & pricing strong through the spring. The List Price to Sales Price ratio is showing that of the homes that closed within the last month, on average they are selling for 4% above the asking price. Granted, this time last year they were selling for 7.24% above the asking price, but again, the data is clearly showing that things are looking good in Glendora.
Pricing has softened since last year, but I'm expecting that we will see appreciation through the rest of the year.
Call me to discuss your situation. 626-347-5987.
Here are the stats:
Total # of Homes Currently Available on the Market- 32
Pending in Escrow- 50
Closed in the last 30 days- 36
Average Days on Market- 31 (Up from 10 days last year) Absorption Rate- 0.94 Months of Inventory
List Price to Sales Price Ratio- (Up 4.1%)
June 2022 to June 2023- Prices went Down by 8.9%
Median price for a home sold in Glendora in the past 30 days was $842,500 according to our local MLS data. This is 8.9% below last years median price during the same time of $925,000.
Mortgage interest rates: Rates have been climbing again over the last few weeks. As of today we are at 6.98% for a 30 year fixed mortgage according to Mortgage News Daily.
Within the last 30 days homes are selling 4.1% above their asking price. Last year homes were selling 7.24% above their list price.
If I can answer any of your real estate related questions, or you are curious what all of this info means for your situation, please reach out. You may call me at 626-347-5987 or shoot me an email at [email protected]