Is Burbank, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Burbank is a seller's market

Buyer's
Market

Difference Since October 2021

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.

How much do homes in Burbank, CA cost?

Median Sold Price

$1,150,000

$751/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$167,500(+17.0%)

Key Takeaway

Homes in Burbank have sold for 17% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 $460.5K$595K
+29.2%
2 $777K$862.5K
+11.0%
3 $1.0M$1.2M
+14.4%
4 $1.4M$1.5M
+8.6%
5+ $1.6M$1.7M
+3.0%

Median Sold Price Compared To Nearby Cities

Glendale
+17.8%
Burbank
+17.0%
La Crescenta
+13.5%
San Fernando Valley
+9.4%
Los Angeles
+9.1%

How many homes are available in Burbank, CA?

Number of Homes For Sale

Sep 2022Oct 2022%
195182-6.7%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 1010
0.0%
2 5651
-8.9%
3 8979
-11.2%
4 3132
+3.2%
5+ 910
+11.1%

Number of Homes Sold

Sep 2022Oct 2022%
5948-18.6%

Asking Price vs. Sold Price

23 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Burbank, you may be able to get a good deal. 47.9% of homes here sold below asking price last month.

Average Sale Time

Oct 2021Oct 2022%
16 Days24 Days+46.1%

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Burbank are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Burbank, CA

Homes for sale in Burbank, CA have reached 182. Between September 2022 and October 2022, Burbank, CA real estate market has seen decrease in the number of listings by 6.7%. The median list price of listings available in October 2022 was $1,150,000, while the average time on the real estate market was 24 days. Real estate listing prices changed between September 2022 and October 2022: prices of 1 bedroom properties went up by 29.2%, prices of 2 bedrooms properties went up by 11%, 3 bedrooms properties prices increased by 14.4%, 4 bedrooms properties became 8.6% more expensive, prices of 5 bedrooms properties went up by 3%. Volume of homes for sale changed: 1 bedroom homes did not move, 2 bedrooms homes inventory decreased by 8.9%, the quantity of 3 bedrooms homes went down by 11.2%, number of 4 bedrooms homes increased by 3.2%, 5 bedrooms homes inventory increased by 11.1%. While more than 17 listings in Burbank, CA in October 2022 were sold above asking price, there were more than 8 listings sold at asking price, and more than 23 were sold below.

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