BUSINESS SPOTLIGHT:Real estate sales follow trend

The so-called real estate "bubble," which some say will soon pop and drive down home prices, is not a concern for Bonyadi.

"People have been talking about the real estate bubble for the past eight months, past year, but we haven't seen it," Bonyadi said. "I'm not anticipating prices dropping in Glendale."

But some areas of the city, have shown a clear sign of slowing.

In Northwest Glendale, the median price of nine homes sold in February was $838,000, down 21% from last year, DataQuick reported.

But raw data is not always the best gauge of a market's overall health, said Gerri Cragnotti, owner and broker of realty company C&G Properties.

The homes that have lingered on the market have lost value in the process, but they have not driven down the price of high-quality properties, Cragnotti said.

"When you see a house with a sign in front for a while, you can bet your bottom dollar that it doesn't have a granite kitchen top or redone bath," she said.

Cragnotti's amenity-rich properties are still fetching multiple offers and their turnover is quick, but there's no denying that the market is not what it used to be, Cragnotti said.

"The days of buying a house and fixing it up and selling right away are over," she said. "To look at buying a home as a quick fix like day traders on the stock market, it's not going to happen."