Burbank remains the most supply-constrained market in our five-area report: just 2.4 months of inventory, the tightest of the group and the only area where supply is down year-over-year (-8.4%). The median sold price hit $1,192,500 — the highest of the five — while new listings surged 28.8% as sellers tested higher asking prices.
By the numbers
- Median sold price: $1,192,500 (+2.8% MoM), highest of all five areas, on 26 closings (+36.6%)
- Tightest inventory: 2.4 months of supply — and the only area tightening year-over-year (-8.4%)
- Negotiation room: 98% sold-to-list ratio — one of two areas where buyers paid under asking on average
- Sellers testing the ceiling: 76 new listings (+28.8%), median list price up 25% to $1,250,000
- Quick sales: 21 median days on market
- Pending demand solid: 44 new pendings (+2.2%), total pending volume up 24%
- Estimated values stable: median $1,247,700 (flat MoM, +0.5% YoY)
What this means for buyers
Burbank is expensive but negotiable — the rare combination this month. A 98% sold-to-list ratio means offers under asking are actually getting accepted, unlike in Glendale or Granada Hills. With new listings up nearly 29%, you have more to choose from than sellers would like you to think. Move on well-priced homes quickly, but don’t be afraid to negotiate.
What this means for sellers
Your competition just grew: 29% more new listings, with asking prices up 25% across the board. In a 2.4-month-inventory market you still hold the leverage — but the sellers pricing 25% higher are testing whether buyers will follow. Price to the $1,192,500 median reality, not the aspirational list prices around you.
Burbank stands apart from the other four areas on supply: it’s the only one where months of inventory fell year-over-year, and its 2.4 months is a full month tighter than Glendale’s — even though Glendale sells faster.
Buying in Burbank? Get the free buyer’s guide: https://buyer.r3es.com
Thinking of selling? Get the free seller’s guide: https://seller.r3es.com