The Glendale and La Crescenta real estate markets are closely related, have had significant foreclosure activity but continue to have a healthy amount of sales which are neither foreclosures nor “short sales”.  Interestingly, inventory in La Crescenta and the larger market of Glendale have remained relatively constant.  For comparison take a look at La Canada and Sunland/Tujunga homes for sale below:

La Canada homes for sale inventory rose dramatically throughout the year until August and then dropped off sharply.  The La Canada real estate market has so far been largely unaffected by foreclosures or “short sales”.  Inventory rose along with market time largely as a result of buyers’ unwillingness to pay list price for homes that did not reflect the price drops associated with foreclosures.

Sunland homes for sale along with Tujunga real estate, on the other hand have been heavily affected by foreclosures and short sales.  The sharp drop in inventory during the spring was the reaction of homeowners unwilling to market their homes at the stressed price levels of foreclosures.  Inventory rose during the summer as foreclosures came on the market and prices came down.  As prices came down more homes sold and the inventory dropped.

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