$10,000 Closing Credit*
$1,550,000
2,008 SqFt
3 Beds
•2 Full Baths
Tagui Davtyan, Listing Office: Strategic Estates Group
Is Burbank, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Burbank has remained a Seller's Market.
Key Takeaway
Burbank is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burbank, CA
How much do homes in Burbank, CA cost?
Median Sold Price
$1,138,333
$774/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$39,333(+3.6%)
Key Takeaway
Homes in Burbank have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Burbank was $1,138,333 in August 2024, up 3.6% from last year, and the median price per square foot was $774.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $552.5K | $570K | +3.2% |
| 2 Bedrooms | $799K | $865K | +8.3% |
| 3 Bedrooms | $1.2M | $1.1M | -3.1% |
| 4 Bedrooms | $1.4M | $1.5M | +5.4% |
| 5+ Bedrooms | $1.9M | $1.9M | -1.2% |
Summary: Burbank housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 8.3%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Cities
| San Fernando Valley | $895.2K | $961.4K | +7.4% |
| La Crescenta | $1.2M | $1.2M | +7.1% |
| Los Angeles | $963.3K | $1.0M | +5.2% |
| Burbank | $1.0M | $1.1M | +3.6% |
| Glendale | $1.1M | $1.1M | +1.4% |
Housing Supply in Burbank, CA
How many homes are available in Burbank, CA?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 191 | 191 | 0.0% |
Summary: The Burbank real estate market had 191 homes for sale in August 2024, the same as July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 64 | 63 | -1.6% |
| 3 Bedrooms | 84 | 78 | -7.1% |
| 4 Bedrooms | 25 | 31 | +24.0% |
| 5+ Bedrooms | 14 | 15 | +7.1% |
Summary: The Burbank housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 1.6%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 24%, and 5+ bedroom homes increased by 7.1%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 54 | 50 | -7.4% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
31 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burbank, you could pay more than the asking price. 62% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Burbank in August 2024, down by 7.4% month-over-month. Of the 50 sold homes, 36% were sold under asking, 2% were sold at asking, and 62% were sold over asking.
Days on Market for Burbank, CA
How long does it take to sell a home in Burbank, CA?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 19 Days | 20 Days | +5.9% |
Summary: Homes in Burbank had an average of 20 days on market in Aug 2024, up by 5.9% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burbank are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 50 homes were sold in Burbank; 74% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.