Burbank Real Estate Sales Statistics

It’s time for Burbank Real Estate Sales Statistics and this year has been quite interesting!  In response to the requests of our clients, we have changed our posting format so that each of the most popular areas has their own individual post for new statistics.  This will cut down on the length of the posts, as well as make the information easier for you to find.  Let us know how you like the new format by email, or comments on the posts.

As we have stated before, real estate sales and market statistics have a profound affect the value of your home.  Analyzing them is not always fun, but it is an important task when buying or selling a home.  Essentially what it boils down to, whether you are buying a home or selling one, is that the market determines the value of a home.  To be more specific, a home is worth only what a potential buyer (the market) is willing to pay for it; regardless of how much you paid for it last year, how much work you’ve put into it, or how much you owe on it.  This is something that many would-be sellers and buyers struggle to grasp.

This article discusses real estate market statistics in Burbank.  If you need statistics in cities or neighborhoods other than Burbank, please let us know and we will be happy to provide them for you.  You are welcome to contact Team Green by calling 818.588.6476, by email, or by completing our contact form found here.

The statistics below are pulled directly from our local Multiple Listing Service (MLS), which is the best and most accurate source for this type of data.  While there are multiple media outlets using national numbers, remember that real estate sales trends are very much a local phenomenon.  Reporting for the nation, a state and even a small region has its place, however, the most important numbers are those from your very own neighborhood.  Local statistics are also the most relevant for a potential buyer or seller.  These numbers represent all residential property types (single family homes, condos, co-ops, townhouses, manufactured, etc.).  We have also included our thoughts on the statistics, which we hope you will find useful.  As always, if you have any questions or comments, please let us know.  We’d love to hear from you.

 

Month	Sales, Number of	Sale Price, Median	Days to Sell, Median	New Listings, Number of
Sep-10	135	$499,000	80	87
Oct-10	100	$439,000	75	138
Nov-10	87	$458,000	57	93
Dec-10	117	$448,500	85	62
Jan-11	103	$462,000	82	88
Feb-11	86	$438,000	92	107
Mar-11	117	$440,000	71	111
Apr-11	112	$455,000	57	106
May-11	81	$465,000	65	105
Jun-11	101	$432,000	59	108
Jul-11	109	$449,000	67	110
Aug-11	118	$430,000	70	91
Sep-11	91	$434,000	75	101
Average	104	$449,962	72	101
Yearly Median	103	$448,500	71	105

 

As you can see above, there were 91 home sales in Burbank for the month of September, which was slightly below the yearly average of 104.

The median sales price was up from August’s $430,000 to $434,000 in September.  Given that 2011’s median sales price in Burbank was $448,500, the number of sales and prices in Burbank were fairly stable throughout the year, barring the typical seasonal variations.  We were spot on with last month’s Burbank predictions in that the fewer properties on the market in August helped prices rise slightly.  Our prediction for next month is that we will see little change in the four categories above.

Burbank is a great place to live and work.  If you are interesting in buying or selling real estate in, or around, Burbank, please let us know.  We would be honored to assist you.

It’s that time again.  We’ve taken the last few months off from publishing real estate sales and market statistics due to a migration to our new MLS system, as well as a brand new website!   Real estate sales and market statistics have a profound impact on the value of your home.  While analyzing them is not always fun, it is an important task whether you are buying or selling real estate.  Below are statistics from just some of the areas in which we represent clients.  If you have a need for statistics in cities or neighborhoods not mentioned below, please let us know.  We would be happy to provide them to you.  You are welcome to contact us at 818.588.6476, via email, or by completing our contact form found here.

These numbers are pulled directly from our local Multiple Listing Service (MLS), which is the best and most accurate source for this type of data.  While there are multiple media outlets using national numbers, remember that real estate sales trends are very much a local phenomenon.  Reporting for the nation, a state and even a small region has its place, however, the most important numbers are those from your very own neighborhood.  Local stats are the most relevant for a buyer or seller.  The charts below are the actual statistics from our local MLS.  These numbers represent all residential property types.  We have also included our thoughts on the statistics, which we hope you will find useful.

 

Burbank: The total number of sales in Burbank for August was 113, representing the second best month for 2011.  While the number of sales was up, the median sales price in August was $430,000, representing a slight decline from July, which was $449,000.  The median days to sell were 65 for August, representing a very reasonable number.  The number of new listings in Burbank in August was 88, which ties this year’s low from January.  With fewer properties entering the market in August, it may help bring prices up.

Our summary for Burbank is that the scales are still tipped in favor of buyers, with August median sale prices being the year’s lowest.  The good news for sellers is that properties are moving reasonably well and the median sales price for the year hasn’t gone up or down by more than $35,000 over the course of the year.  If you’ve been contemplating buying or selling real estate in Burbank, give us a call and be represented by the most successful real estate brokerage in town.  Our team has the highest number of sales among all brokerages in Burbank!

Burbank: Number of Sales and Median Sales Price

Burbank: Median Days to Sell and Number of New Listings

 

Chevy Chase Canyon:  Near and dear to our hearts, and in our backyard…literally!  Chevy Chase Canyon is one of the most prestigious areas of Glendale.  Our view of Chevy Chase Canyon includes those homes within the borders of the 210, 2, and 134 freeways.  Technically it includes properties in Glendale, La Crescenta, La Canada and Pasadena with Chevy Chase Drive running right down the middle of it.

The number of sales in August was 33, which has been about the average for the year.  The median sales price for August was up at $760,000, making it the third highest month in 2011.  The median days to sell were 71, which is the third lowest for the year.  In August 37 new properties entered the market, matching July’s entries.  August was a third place tie for the third lowest number of new listing for the year.  Seems like August was a month of thirds for Chevy Chase Canyon doesn’t it!  Competition in the Canyon is stiff and we’re still calling this area a buyer’s market.  The properties that are moving quickly in the canyon are those priced appropriately based on their condition and days on market.  The good news for sellers is that prices have been on the rise for three straight months now and the number of new listings is flat again this month.  This should help to boost prices slightly.

Chevy Chase Canyon: Number of Sales and Median Sales Price

Chevy Chase Canyon: Median Days to Sell and Number of New Listings

 

Glendale:  The number of sales in Glendale rose for the fourth straight month!  In fact, the number of total sales in Glendale was at 113, which is the second best selling month in 2011.  The median sales price is the lowest it’s been all year at $430,000.  The number of sales is up and prices are down!  The median days to sell were at 65 this month, making August tied for the third fastest selling month of the year.  The number of new listings was 88, which ties the year’s low in January.  This could start a trend in climbing sale prices as the market absorbs existing listings.  We’ll be watching Glendale closely next month.

Our summary for Glendale is that properties are moving quickly and on the cheap, making it a buyer’s market.  If you are selling in Glendale, give us a call so that we can help you get the most money possible for your home.  For our buyers, we’ll need to act quickly as properties are moving at a rapid rate.  It’s time to get off the fence and let us help you find the home of your dreams!

Glendale: Number of Sales and Median Sales Price

Glendale: Median Days to Sell and Number of New Listings

 

La Canada Flintridge:  The total number of sales per month in La Canada Flintridge has been all over the map this year (typical for this area), however, prices have remained stable (also typical for La Canada Flintridge).  In August there were 30 total sales and the median sales price was $1.125M.  The median days to sell in La Canada were 60, which makes August the third best month of the year.  The number of new listings in August was down sharply from 34 in July to 17.  This may drive prices slightly up in the next two months.  This will be a number to watch closely throughout the rest of the year.

As most of you already know, the La Canada Flintridge area is always in high demand, particularly because it has the 5th ranked school district out of California’s 766 districts.  This demand keeps property values stable, as well as the days on market.  Basically, it’s ALWAYS a good time to buy or sell in La Canada Flintridge.

La Canada Flintridge: Number of Sales and Median Sales Price

La Canada Flintridge: Median Days to Sell and Number of New Listings

La Crescenta:  La Crescenta has seen fairly wide swings in sales and prices this year.  In August there were 22 sales, down from 27 in July and also the lowest month for total number of sales for the year.  The average so far for 2011 is 28.  What is interesting about La Crescenta is that the median sales prices have gone up and down significantly.  In fact, there has been a $167,000 swing so far this year.  The median sales price in La Crescenta for August was up from July’s $607,500 to $611,500.  The days to sell for August was 63 and the number of new properties hitting the market were 20.  In short, there are fewer homes coming on the market and they are selling faster.  Could this be the start of a seller’s market in La Crescenta?  It is possible and only time will tell.

La Crescenta: Number of Sales and Median Sales Price

La Crescenta: Median Days to Sell and Number of New Listings

 

Pasadena:  Pasadena is perhaps the most stable of all citywide markets that we have analyzed this year.  The total number of sales for August was 113, making it the second busiest month of the year so far.  The median sales prices was $430,000, down from July’s $449,000.  The median days to sell was 65, which makes August a second place tie for fastest sales, while the number of new properties on the market was a last place tie (with January) at 88.

Pasadena is also in continually high demand and it is typically always a good time to buy or sell, even if you’re not a “little ‘ol lady from Pasadena.”

Pasadena: Number of Sales and Median Sales Price

Pasadena: Median Days to Sell and Number of New Listings