We analyzed various housing market indicators to present a detailed breakdown of the Glendale housing market comparing February 2009 to February 2010.

Summary of key points

Key statistics, Glendale, CA: median sales price (113.16%), average days on market (140.29%) and number of units sold (-31.37%), sales price to market ratio list price (95 February 95% – 10 February 98) %)

The City of Glendale has shown a very impressive recovery with the median sales price shooting through the roof. Average days on market and number of units sold categories have suffered Units sold are typically based on available inventory. Lack of inventory reduces units sold. Median days on market increases because many short sales are involved and getting approvals from lenders adds to median days on market.

Glendale Houses

The City of Glendale experienced a 113.16% increase in median sales price over last year, from $335,863 (February 9) to $715,922 (February 2010). The median number of days in the Glendale market data shows that homes are selling slower than on February 9. It took 29 days for a home to sell in February 2009, and by February 10 that number increased to 69 days (a 140.29% deterioration). Another important factor to consider is the total number of units sold. In the month of February 9, 51 units were sold compared to 35 on February 10 (variation -31.37%). Finally, let’s take a look at the relationship between Glendale’s sale price and list price. The SP/LP ratio for February 9 was 95% compared to 98% on February 10.

Let’s take a brief look at neighboring Burbank and West Hollywood. Burbank homes saw a 24.69% increase in median sales price ($476,991 on February 9 to $594,740 on February 10) and West Hollywood, California homes for sale saw a -2 decrease .11% ($870,000 on February 9 to $851,667 on February 10). Are homes in Burbank and West Hollywood selling faster or slower this year? Well, Burbank saw a -12.58% decline (58 to 51 days) in median days on market and West Hollywood saw a -59.17% decline (80 to 33 days). In the units sold category, Burbank sold 8 fewer units (-24.24%) in February 2010 than in February 2009 and West Hollywood sold 1 more unit (50.00%) in February 2010 than in February 2009 .