Burbank, CA – Real estate agent Julian Munoz reports that the Burbank property market appreciated for the 3 month rolling average for May 2017 year over year by 7.2%, with a mean value of $700,000. The 3 month rolling average mean price now has hovered steady since August 2016 at this level. There were a total of 71 sales in May 2016 with a mean closing price of $610,000; the mean was $749,000 with 69 sales in 2017, an increase of 22.9% if only looking at the month.
Market forecast for June 2017
Munoz predicts the Burbank real estate market will appreciate in summer 2017 between 5%-7%, representing about $35,000-$49,000 increase to the average home, if all else in the economy remains the same. We are now entering the prime season for selling and values usually bump up to a higher level later in the season. Due to tight inventory level we just have to wait and see if this pans out, but no foreseeable issues so far.
FEATURED PROPERTY
Dr, Burbank CA 91206 – Offered at $928,000
This late mid-century modern home in the exclusive Chevy Chase Canyon neighborhood of Glendale is perched well above street level with lush canyon, mountain and golf course views. A private driveway ending in an expansive front lawn with a large shade tree ensures that the home is an idyllic retreat while still being close to the shopping, dining and commerce; minutes away from studios, Downtown LA, Pasadena, and other tony parts of LA. The optimal floor plan begins with a sunny formal living room area that integrates gracefully into the dining room and family room, giving the open space a wonderful depth and perspective with extraordinary natural light. The kitchen is open to the dining room area and has a peninsula breakfast bar ideal for entertaining as well as everyday family use. The communal spaces take complete advantage of the elevated location and showcase the canyon views and neighborhood below. The bedrooms are tucked away to the back of the house for privacy and quiet. The homeowners have taken great pride in maintaining the home and have recently updated the kitchen, bathrooms, windows and floors while keeping to the integrity of the original 1960s modern architecture.
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].