Wednesday, February 15, 2012

Burbank single family home values are seeing an uptrend according to the latest data.  (see chart below)


Average selling price has rebounded to$562,068,  up 14% from December 2011 prices.  Days on market were down from 89 to 84 days in the same period.

Overall the sweet spot right now continues to be in the $425-$525,000 range where most of the buyers seem to be concentrated.

Inventory is increasing somewhat, which is normal for this time of year, but overall levels are low.

Next week we will have a host of numbers out, including Housing Starts, Existing Home Sales, Producer Price Index and Consumer Price Index.

Burbank: Sales September 2011 - January 2012


Month Sale Price, Average Days to Sell, Average

Sep 2011 $491,122 87
Oct 2011 $493,486 102
Nov 2011 $462,118 77
Dec 2011 $492,404 89
Jan 2012 $562,068 84
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