Burbank home sales - sold and pending sales for April 2010

Burbank home sales for April 2010 vs. March 2010:

· new listings down 13%

· days on market (DOM) no change at 63

·under contract or pending sales up 21.5%

· average list prices are up 3%

· average sold prices are up 3.7%

While this is month to month information, it does give us some insights into the current market trends.

Buyers are out there and are buying, as evidenced by the increase in pending sales. Current inventory levels present some challenges, so well priced properties are receiving multiple offers and prices are showing upward momentum.

Right now roughly 50-60% of our market is short sales.

Sellers that do not qualify for a loan modification or are unable to stay in their homes financially are actively pursuing short sales and this trend will continue for some time. What this means is that sellers that don't have to sell probably will sit on the sidelines and see if prices continue to stabilize or rebound.

 If you are thinking about a short sale, make sure you talk to a qualified real estate agent with short sale experience and your CPA, your attorney etc. in order to get a clear picture of the possible impacts to your credit and financial situation.

Burbank Monthly Real Estate Report: April 2010

Information is Believed To Be Accurate But Not Guaranteed

Southern California Multiple Listing Service

Burbank Monthly Real Estate Report: March 2010

Information is Believed To Be Accurate But Not Guaranteed

Southern California Multiple Listing Service