If you live in Burbank, CA and have been wondering if it is a good time to list your home. You may want to consider the following information. For the past few weeks, we've been noticing a decrease in the amount of new listings coming to the Burbank market. To see how much, I put together a snapshot of available homes for sale in Burbank, CA that covers the past two years - February 2010 to February 2012. These numbers represent all single family, town homes, and condos currently for sale in the city of Burbank, CA. Even though the overall numbers have fluctuated, the chart shows that inventory is at its lowest amount in two years with February 2012 being 60% lower than February 2010!
Ah, but what about demand? One may assume inventory is down because demand is down as well? To answer this question, lets look at the amount of sales over the same period. If sales have dropped, then demand surely has dropped as well?
As one can see, overall sales per month has hovered in the thirty to sixty properties per month range over the past two years - never dropping below thirty. And sales for February 2012 are actually up 9% from February 2010. With demand holding steady and inventory being low, it may be a great time to take advantage of the drop in supply and sell your home while at an advantage.
Call today and we can investigate if the time is right for you to sell. We'll investigate what your home is worth in today's market and see what your net profit is after paying off.
Philip Keppel
REALTOR®
DRE#01875431
Media West Realty
4105 W. Magnolia Blvd.
Burbank, CA 91505
818.845.9700 Office
818.845.9703 Fax
818.516.7387 Cell
