$10,000 Closing Credit*
$2,498,000
2,815 SqFt
3 Beds
•3 Full Baths
Nona Yegiazaryan, Listing Office: Emedel Realty
Is Burbank, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$1,128,372
$788/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$16,467(+1.5%)
Key Takeaway
Homes in Burbank have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Burbank was $1,128,372 in October 2024, up 1.5% from last year, and the median price per square foot was $788.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $550K | $584K | +6.2% |
| 2 Bedrooms | $825K | $895K | +8.5% |
| 3 Bedrooms | $1.2M | $1.1M | -3.2% |
| 4 Bedrooms | $1.4M | $1.5M | +8.1% |
| 5+ Bedrooms | $1.9M | $2.2M | +17.1% |
Summary: Burbank housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.2%, 2 bedroom homes increased by 8.5%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 17.1%.
Median Sold Price Compared To Nearby Cities
| La Crescenta | $1.2M | $1.3M | +8.3% |
| San Fernando Valley | $900.5K | $968.3K | +7.5% |
| Los Angeles | $969.8K | $1.0M | +5.5% |
| Glendale | $1.1M | $1.1M | +2.0% |
| Burbank | $1.1M | $1.1M | +1.5% |
Housing Supply in Burbank, CA
How many homes are available in Burbank, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 187 | 213 | +13.9% |
Summary: The Burbank real estate market had 213 homes for sale in October 2024, a 13.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 9 | +50.0% |
| 2 Bedrooms | 63 | 64 | +1.6% |
| 3 Bedrooms | 76 | 92 | +21.1% |
| 4 Bedrooms | 32 | 35 | +9.4% |
| 5+ Bedrooms | 10 | 13 | +30.0% |
Summary: The Burbank housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 30%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 42 | 47 | +11.9% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burbank, you may be able to get a good deal. 51.1% of homes here sold below asking price last month.
Summary: A total of 47 homes were sold or pending in Burbank in October 2024, up by 11.9% month-over-month. Of the 47 sold homes, 51% were sold under asking, 4% were sold at asking, and 45% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 31 Days | +45.0% |
Summary: Homes in Burbank had an average of 31 days on market in Oct 2024, up by 45% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 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 October 2024, 47 homes were sold in Burbank; 66% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 6% 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.