subject: Burbank Homes Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Burbank Homes Market comparing February 2009 to February 2010.
Summary of Key Points
Burbank Homes for Sale has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Sellers received full asking price as compared to 89% last year. The market is showing definite improvement.
Key Statistics, Burbank, CA: Median Sales Price (24.69%), Median Days on Market (-12.58%), and Number of Units Sold (-24.24%), Sales Price to List Price Ratio (Feb 09 89% - Feb 10 100%)
Burbank Homes
The city of Burbank experienced a 24.69% increase in median sales price from last year going up from $476,991 (Feb. 09) to $594,740 (Feb. 2010). Median days on market data for Burbank show that houses are selling faster than Feb 09. It took 58 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 51 days (a 12.58% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 33 units were sold compared to 25 for Feb 10 (-24.24% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Burbank. SP/LP ratio for Feb 09 was 89% compared to 100% for Feb 10.
Lets take a brief look at neighbors Glendale and Pasadena. Glendale Homes featured a 113.16% increase in median sales price ($335,863 Feb 09 - $715,922 Feb 10) and Pasadena Homes saw a 16.13% increase ($559,960 Feb 09 - $650,288 Feb 10). Are houses in Glendale and Pasadena selling faster or slower this year? Well, Glendale experienced a 140.29% increase (29 to 69 days) in median days on market and Pasadena a 205.08% increase (34 to 102 days). In the units sold category, Glendale sold 16 units less (-31.37%) in Feb 2010 than 09 and Pasadena sold 7 units more (17.50%) in Feb 2010 than Feb 09.
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