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January Stats for Rossmoyne Homes in Glendale CA

By
Real Estate Agent with Teles Properties
Now it's on to talk about the Rossmoyne area of Glendale. Again, this is the first month of on on going series. As we progress, you will get a great idea of the trends for this year.
Single Family Homes January
New Listings 20
Total Listings 62
Sales Pending 7
Homes Sold 10
Expired Listings 7
Average Days on Market 98
Average $per Sq.Ft. $319
Median Selling Price $716,500
Average Selling Price $615,308
Absorption Rate * 5
* The # of months to sell current inventory at present rate of sales
You can call this the baseline. We are starting this year with 5 months of inventory on hand. This is considered a balanced market, with neither a strong bias toward buyers or sellers. I know this is bursting the bubble of some of you buyers out there... but the truth is, there is not a heck of a lot of good houses on the market to choose from, and a fair number of buyers competing for those few homes. The bulk of the homes on the market... well, they need to season a bit (as in, be on the market long enough to get the sellers to put up or... well, you get the idea)
Condos and Townhomes January
New Listings 4
Total Listings 10
Sales Pending 5
Homes Sold 3
Expired Listings 4
Average Days on Market 40
Average $per Sq.Ft. $293.21
Median Selling Price $233,000
Average Selling Price $260,667
Absorption Rate * 5.71
* The # of months to sell current inventory at present rate of sales
Rossmoyne is not well known for it's condo inventory, but there are a few delightful buildings just off Brand above Glenoaks Blvd. There is good news and bad news in this chart. The good news is that there are a very healthy number of sales in January. Also, the average days on market if quite short, only 40 days. The bad news is that there are 5.71 months worth of inventory, not quite a buyers market, but getting there. Click here for the latest in Rossmoyne Home Listings.