• calendar_month October 11, 2022
• folder Absorption Rate

Burbank CA is staying steady closing out September 2022 with a 59% absorption rate. What does that mean that means that today we have 73 active single family homes for sale but in September 43 single family homes were sold so we are finding Burbank CA in high demand! 

Sellers were able to capitalize on this demand with a median list price of $1,149,000 and median closing price of $1,163,000 which brings the average price per SQFT to $782. Average time a home was on the market, just 16 days. 

The numbers again prove that despite rumors or a crash, rising interest rates the simple fact that our supply does not meet our demand Burbank CA is a steady and solid healthy market!