As a real estate agent selling Glendale homes,  it is crucial that I keep apprised of current real estate prices in all of the communities in which I work.  At the beginning of each month I search the MLS (multiple listing service) and in order to determine current market conditions I analyze the last month's closings.  Last month Glendale was the poster child for distress sales.



In April 37% of Glendale homes sales were foreclosures or short sales; that percentage in May increased to 47%. Due to the increase in the distress sales, it makes sense that:

The average price per square foot and selling price decreased
Days on market become longer, Increase in percentage of selling price to list; both likely due to the increase in short sales, which often sell over their initial asking price.



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