Is Burbank, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Burbank has remained a Seller's Market.
Housing Prices in Burbank, CA
How much do homes in Burbank, CA cost?
Median Sold Price
$1,114,833
$739/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Burbank was $1,114,833 in March 2024, down 1.1% from last year, and the median price per square foot was $739.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $650K | $572K | -12.0% |
2 Bedrooms | $800K | $870K | +8.8% |
3 Bedrooms | $1.2M | $1.1M | -0.5% |
4 Bedrooms | $1.4M | $1.4M | -3.1% |
5+ Bedrooms | $1.8M | $2.0M | +11.5% |
Summary: Burbank housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12%, 2 bedroom homes increased by 8.8%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 11.5%.
Median Sold Price Compared To Nearby Cities
Glendale | $1.1M | $1.1M | +2.2% |
San Fernando Valley | $910.8K | $928.8K | +2.0% |
La Crescenta | $1.2M | $1.2M | +1.7% |
Burbank | $1.1M | $1.1M | -1.1% |
Los Angeles | $988.7K | $975.9K | -1.3% |
Housing Supply in Burbank, CA
How many homes are available in Burbank, CA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
154 | 159 | +3.2% |
Summary: The Burbank real estate market had 159 homes for sale in March 2024, a 3.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 40 | 44 | +10.0% |
3 Bedrooms | 66 | 67 | +1.5% |
4 Bedrooms | 35 | 31 | -11.4% |
5+ Bedrooms | 10 | 12 | +20.0% |
Summary: The Burbank housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 11.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 45 | +25.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
31 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Burbank in March 2024, up by 25.0% month-over-month. Of the 45 sold homes, 22% were sold under asking, 9% were sold at asking, and 69% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
34 Days | 18 Days | -47.9% |
Summary: Homes in Burbank had an average of 18 days on market in Mar 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 45 homes were sold in Burbank; 87% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.