Burbank, CA Real Estate Market Update - July 2023

Hi Everyone, 

Welcome to our latest Burbank, CA real estate market update for the month of July 2023! As a local Realtor in Los Angeles, I am excited to share with you the key insights and trends in the single-family home market in Burbank. The data from this update provides valuable information for both buyers and sellers, helping you make informed decisions in this dynamic and thriving market.

High Demand and Quick Sales:

In July 2023, the Burbank real estate market continued to show strong demand for single-family homes. With 51 active listings, buyers had a variety of options to choose from. The remarkable aspect is that the average time on the market was just 8 days, indicating a rapid pace of sales. Homes are moving quickly, so buyers need to act swiftly to secure their dream property.

Median List and Sold Prices:

The median list price for single-family homes in Burbank was $1,300,000 in July 2023. On the other hand, the median sold price reached $1,335,000 during the same period. This data suggests that sellers are achieving favorable prices for their homes, while buyers are investing in properties with promising appreciation potential.

Price per Square Foot:

The price per square foot for single-family homes in Burbank was recorded at $826 in July 2023. This metric highlights the overall value of properties and can serve as a useful benchmark for evaluating investment opportunities.

Burbank, remains a vibrant and sought-after real estate market for single-family homes. With strong demand, quick sales, and increasing prices, both buyers and sellers can find favorable opportunities in this dynamic market. As a local Realtor, I am here to help you navigate this competitive landscape, providing expert advice and personalized solutions to meet your real estate needs.

If you are considering buying or selling a home in Burbank or have any questions about the current market trends, please don't hesitate to reach out.

.

Best Regards, 

Kenneth Linares