Burbank, CA – Real estate agent Julian Munoz reports that the Burbank property market appreciated for the month of June 2017 year over year by 4.5 percent. There were a total of 172 sales in June, with a mean closing price of $706,000 in 2016; the mean was $737,500 with 152 sales in 2017, an 11.5% decrease in sales sides. If we look at the second quarter as a whole the mean price shows a slightly greater appreciation of 5.1% with a lower sale count; 2016 was $680,000 with 446 sales and 2017 was $715,000 with 428 sales.
Market forecast for July 2017
Munoz predicts the Burbank real estate market to appreciate in summer 2017 year over year between 5%-8% if all else in the economy remains the same. Prices will continue to stabilize as the summer buying season continues which has been the trend from the last few years. Inventory will continue to be insufficient causing the number of sales to decrease for the rest of the traditional buying season.
FEATURED PROPERTY
3328 W Verdugo Ave, Burbank Ca – Leased
Great home in Burbank close to parks and in the Stevenson elementary school district offered for lease. A 3 bedroom 1 bathroom home with a good sized backyard area and converted garage that is now an office. In unit laundry room with brand new washer and dryer, kitchen has new gas range and all bedrooms have new double pane glass windows. The house also does have central air and heat, hardwood floor in dining/living areas. Tenant pays all utilities. Landlord pays for gardener. Minimum 12 month lease offered at $2.900/month. Click here for more information.
Julian Munoz (CALBRE #01331008) has 15 years of experience as a top-performing real estate agent. Munoz is a past President of the Burbank Association of Realtors, Region 18 Director of the California Association of Realtors, and California delegate to the National Association of Realtors. Julian’s goal is to educate his Clients so they can make the best decision for themselves to meet their real estate goals. Visit Julian’s website to see both featured listings and recent sales. Julian can be reached by telephone at or email at [email protected].