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

Housing Market Conditions



Gauge showing Burbank is a seller's market


Difference Since May 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, IL

How much do homes in Burbank, IL cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Burbank have sold for 5.8% more than they did a year ago.

Summary: The median home sold price in Burbank was $290,816 in May 2024, up 5.8% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $109.9K-
2 $169.2K$220K
3 $265K$285K
4 $299K$332K
5+ $461.3K$390K

Summary: Burbank housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 11%, and 5+ bedroom homes decreased by 15.5%.

Median Sold Price Compared To Nearby Cities

Stickney Township
Oak Lawn

Housing Supply in Burbank, IL

How many homes are available in Burbank, IL?

Number of Homes For Sale

Apr 2024May 2024CHANGE

Summary: The Burbank real estate market had 91 homes for sale in May 2024, a 26.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
2 74
3 4657
4 1320
5+ 610

Summary: The Burbank housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes increased by 66.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

4 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. 47.1% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Burbank in May 2024, down by 15.0% month-over-month. Of the 17 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.

Days on Market for Burbank, IL

How long does it take to sell a home in Burbank, IL?

Average Sale Time

May 2023May 2024CHANGE
25 Days27 Days+8.1%

Summary: Homes in Burbank had an average of 27 days on market in May 2024, up by 8.1% compared to last year.

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 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.

Summary: During May 2024, 17 homes were sold in Burbank; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

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

Report Updated 19 Days Ago

Newest Listings in Burbank, IL

Nearby Markets to Burbank, IL

What housing markets are near Burbank, IL?