Reviewing monthly and yearly changes in our real estate market.

We want to share a quick review and comparison of what’s happening in the Burbank, Glendale, and North Hollywood markets. Here are the numbers you need to know:

• At this time last year, interest rates were at 3.16%. Today they are at 4.73%. That’s an increase of over 49%.

• We saw 218 sales this month compared to 244 last month. That’s an 11% decrease.

• At this time last year, the average sales price was $969,000. It has since risen 22% to $1,174,000.

• At this time last year, the price per square foot was $612. It has since risen over 17% to $720.

• At this time last year, the days on market average was 25 days. Homes are now selling 31% quicker in an average of only 19 days.

If you have any questions, don’t hesitate to reach out to us by phone or email. We look forward to hearing from you soon.