Is Burbank, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$1,121,165
$750/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Burbank was $1,121,165 in April 2024, down 0.3% from last year, and the median price per square foot was $750.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $647.5K | $537K | -17.1% |
2 Bedrooms | $800K | $880.5K | +10.1% |
3 Bedrooms | $1.2M | $1.1M | -1.2% |
4 Bedrooms | $1.4M | $1.4M | +1.8% |
5+ Bedrooms | $1.8M | $2.1M | +12.7% |
Summary: Burbank housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 17.1%, 2 bedroom homes increased by 10.1%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
La Crescenta | $1.2M | $1.2M | +4.2% |
San Fernando Valley | $901.1K | $938.9K | +4.2% |
Glendale | $1.1M | $1.1M | +2.2% |
Los Angeles | $978.8K | $986.4K | +0.8% |
Burbank | $1.1M | $1.1M | -0.3% |
Housing Supply in Burbank, CA
How many homes are available in Burbank, CA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
168 | 167 | -0.6% |
Summary: The Burbank real estate market had 167 homes for sale in April 2024, a 0.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 6 | +20.0% |
2 Bedrooms | 46 | 46 | 0.0% |
3 Bedrooms | 70 | 67 | -4.3% |
4 Bedrooms | 35 | 35 | 0.0% |
5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Burbank housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
47 | 54 | +14.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Burbank in April 2024, up by 14.9% month-over-month. Of the 54 sold homes, 35% were sold under asking, 11% were sold at asking, and 54% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 21 Days | -38.4% |
Summary: Homes in Burbank had an average of 21 days on market in Apr 2024, down by 38.4% compared to last year.
Breakdown of Home Sale Times
40 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 54 homes were sold in Burbank; 74% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.