2014 Burbank Real Estate Sales

front22Burbank is a city in beautiful Los Angeles County, California. Located just 12 miles northwest of downtown Los Angeles and only a few miles northeast of Hollywood, Burbank is known as the “Media Capital of the World.” The designation is well earned, too, with many of the world’s leading media and entertainment corporations headquartered or located here, including Warner Bros. Entertainment, Warner Music Group, The Walt Disney Company, Nickelodeon, Insomniac Games, and NBC.

The area that is presently Burbank boasts a rich history, dating back to the 18th century, when the land was part of two Spanish and Mexican – era colonial land grants, granted by the Spanish Bourbon government in 1784. Eventually, the land was purchased by Dr. David Burbank in 1867, where he built a home and grew wheat and raised sheep on the land. The area that became Burbank was settled in the 1870s and 1880s, and the city experienced steady growth, managing to weather the depression and drought that rocked Los Angeles in the late 19th century.

With a cost of living that is lower than the California state average, warm temperatures all year round, and a low unemployment rate coupled with plenty of job opportunities, it is easy to see why so many people choose to remain in or relocate to Burbank, California year over year. But how do 2014 Burbank real estate sales stack up again previous years? Are there any trends that emerged in the market over the past year? Let’s take a look at some facts about 2014 Burbank real estate sales.

Overall, the Burbank real estate market is still a strong seller’s market. Property in Burbank is in very high demand, and is also very likely to sell quickly, even if the listing is overpriced or the property is in less than ideal condition. Usually, what happens when a property is listed in Burbank is that a bidding war will ensue, which leads to the sale price typically being driven above the seller’s original asking price.

The average listing price in Burbank in 2014 was just over $540,000 – nearly 30 percent lower than the average Burbank home sale price of $736,000.

Burbank is also an excellent place for families, with a great school system that consists of public schools, as well as options for private school and alternative schools. Some of the most highly rated schools in Burbank include the following:

  • Ralph Emerson Elementary School
  • R. L. Stevenson Elementary School
  • Burbank High School
  • Concordia – Burbank School

Predictions for Real Estate in Burbank in 2015

While Burbank has experienced steady population growth and expansion over the years, it isn’t predicted to grow much through 2015 and beyond. This is because Burbank is essentially built out, using all of the available space for real estate. This has led to a very efficient use of space for Burbank real estate, but what does this mean for emerging trends in 2015? This means that can continue to see a revamping of current Burbank California real estate, making the most of what the city already has, and placing a premium on long standing and lasting home values. When you invest in Burbank real estate, you can rest assured that you are making a good investment – this is a community that is committed to maintaining the feel and features that have made Burbank such a great place to live in the first place.

If you are interested in searching for a Burbank house for sale, or if I can be of any other assistance, please don’t hesitate to contact me. I am Dan Soderstrom, and I have been in real estate for nearly three decades. As a Realtor, it is my honor to get to know and personally understand my clients’ interests and wants in a new home – and then working to connect them with the property that is just right for them.

 

Whether you are a first time homebuyer or the most seasoned buyer, I will work to make your real estate transaction and comfortable and stress free as possible. I will work closely with you, making sure to keep you personally informed and educated throughout the process. Give me a call or connect with me online to get started today!