What Recent Sales Reveal About the Glendora Real Estate Market ...

Is the market active?? What price ranges are selling?? What percentage of homes in the area sell for a loss?? The answers to these questions are important for anyone considering a Glendora home a condo purchase in current market conditions.

?The High and the Low

There is a wide range of options in home prices in Glendora ranging from under $ 200,000 to $ 1 million and slightly over.? The median sales price for a home is $ 406,000, up from $ 386,000 a year ago.? So, while home prices fell from the 2007 and 2008 levels, they seem to have stabilized and are even rising in this area for the past couple of years.? This does not mean, however, that homes and condos in Glendora are over-priced. Regardless of your price range, it is still possible to get good value for your money in this area.

?The High End

If your lifestyle calls for a large, luxury home there are plenty of properties on the market and sales are being made.

During the past three months, three single-family homes sold for slightly over $ 1 million. One of those homes sold in March and the other three sold in May. These are large homes with luxury appointments, often with a pool and/or a view.?

?The Middle Range ? $ 400K to $ 999K

This is the largest category of homes that sold during the past three months. Approximately 39 homes in this price range sold.? A few of these homes sold in March, but most were sold in April and May.? These are generally single story homes with 3 to 5 bedrooms and ideal for families with children.?

The Lower Range -? $ 200K to $ 375K

Also ideal for families with children, and first time buyers, thirty-six homes in this price range sold within the past three months.? Most of these homes have 3 bedrooms but there are also 2 bedroom homes that sold in this price range.?

?Condos are Scarce

Very few condominiums exist in the Glendora real estate market.? There are only 31 condos currently for sale.? There were 8 condominiums that sold during the time period in question.? These condos ranged in price from? $ 185K to $ 390K.? Only one condo sold in March while the balance of the condos sold in April and May.

?Figures Tell a Tale

It is possible to look at the history of sales in an area to find out how current home sales compare with sales in the past. When you know what is actually selling in an area, you get a pretty accurate picture of the local market.? For example, there were 51 homes that sold in Glendora in the past year.? That is the highest number of yearly sales over a five-year period. For example, in 2007 there were 47 homes that sold; in 2008 17 homes sold; in 2009 37 homes sold and in 2010 45 homes sold.? These figures indicate that the Glendora real estate market has remained strong throughout the latest real estate slow down.

A Look at the Distressed Home Market in Glendora

A very small percentage of homes in Glendora have experienced foreclosure but approximately 28 percent of homes did sell for a loss.? Throughout this real estate downturn, the percentage of homes that sold for a loss in Glendora rose to 9 percent in 2008, 18 percent in 2009 and 26 percent in 2010.? However, when you compare Glendora with nearby Covina and West Covina where 37 percent of homes in each city sold for a loss, you can see that it is a stronger market than many of the surrounding cities.? Now if you look back five years you will see that only one percent of homes sold for a loss in 2007 so there are some signs that Glendora, like most other cities in the area has been affected by the economic downturn and has a percentage of homes where buyers can take advantage of price reductions and short sales.

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