How our real estate market has changed in the past 12 months.

Today we want to give you an update and year-over-year market comparison to understand what’s going on in the Burbank, Glendale, and North Hollywood areas. Here are the comparisons for May 2021 to May 2022:

• Sales are down by over 10%. Last year we had 226 closed sales. This May we had 204.

• The average sales price increased by over 17% from last year’s $1,047,000 to our current $1,232,000.

• The average price per square foot last year was $649 dollars, and has increased by over 17% to $760.

• On May 28, 2021, the interest rate was 3.151%. On May 31, 2022, the interest rate was 5.344%.

If you have any questions about our market, we’re just a phone call or email away. We look forward to hearing from you.