Housing Prices in The Glebe
by Dave Williams
Where can you buy a $1.35M century estate just a few blocks from a $347,000 Semi?
Today’s Glebe is a melting pot of homes, with 96 currently for sale ranging from $399,000 right up to $2.2M. So far this year (May 23rd, 2012) 80 Homes have sold in the Glebe (that’s an Absorption Rate of 14 a month) for an average price of $707,934 taking 29 days to sell (again on average).
Last year we saw 220 sales in The Glebe (18/month) ranging from $305,000 to $1.26M, averaging $632,203 and taking 31 days to sell. So while, we had seen an improvement in prices and time to sell, especially when you look at the 6 under contract right now that took and average of 14 to get an offer, there are fewer homes selling so far this year.
If we zero in on the same date range last year we can see 96 homes sold for an average of $693,694 in 40 days.