Burbank and Glendale real estate update
Total properties sold were up for the period in Burbank, by a good margin, but down in Glendale. Prices were up by a nice margin in both cities over last year same period. Nationwide, October did not show the anticipated seasonal slowdown.
Mortgage interest rates overall are lower than they were a couple of months ago and buyer demand remains strong. Market sentiment is mixed that the Federal Reserve will not taper anytime soon, in fact now they are talking about Q1 or Q2 of next year. The consensus among financial analysts is that mortgage rates will trend higher in the next year, so this current downtrend represents a good opportunity for buyers.
Buying demand continues to be strong in certain price points and types of homes, with very strong demand in the $500-$750 range.
Mortgage interest rates overall are lower than they were a couple of months ago and buyer demand remains strong. Market sentiment is mixed that the Federal Reserve will not taper anytime soon, in fact now they are talking about Q1 or Q2 of next year. The consensus among financial analysts is that mortgage rates will trend higher in the next year, so this current downtrend represents a good opportunity for buyers.
Buying demand continues to be strong in certain price points and types of homes, with very strong demand in the $500-$750 range.
Real estate stats
Single Family Home Sales
Burbank CA
Burbank CA
| Aug-Oct 2012 |
Aug-Oct 2013 |
% change | |
| Total properties sold | 147 | 180 |
+22.4%
|
| Average price (sold) | $519,163 | $633,823 | +22.1% |
| Average price per sq.ft.(sold) | $334 | $400 | +19.7% |
| Average days on market (sold) | 67 | 39 | -41.8% |
| Average sold price/list price % | 99.4% | 100.8% | +1.4% |
| Pending properties(at end of period) | 85 | 44 | -48.2% |
| Total properties for sale( at end of period) | 80 | 64 | -20.0% |
| Average price of properties for sale | $633,528 | $856,623 | +35.2% |
Single Family Home Sales
Glendale CA
Glendale CA
|
Aug-Oct 2012 |
Aug-Oct 2013 |
% change | |
| Total properties sold | 212 | 172 | -18.9% |
| Average price (sold) | $625,737 | $738,766 | +18.1% |
| Average price per sq.ft.(sold) | $334 | $375 | +12.4% |
| Average days on market (sold) | 64 | 50 | -21.9% |
| Average sold price/list price % | 98.8% | 99.9% | +1.1% |
| Pending properties(at end of period) | 102 | 55 | -46.1% |
| Total properties for sale( at end of period) | 119 | 91 | -23.5% |
| Average price of properties for sale | $795,226 | $887,680 | +11.6% |
Report was generated using data from CRMLS. CRMLS does not guarantee and is not in any way responsible for the accuracy of their data. Data maintained by CRMLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
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