Interest rates show modest improvement, creating slightly more favorable conditions for buyers.

Have you heard that there are now over a million properties on the market in the United States? This is the highest level of housing inventory we have seen since 2019. Today, I’m sharing a snapshot of how the Burbank, North Hollywood, and Glendale real estate markets performed in 2024 vs. 2025. Here’s what you need to know:

Local market overview: Burbank, North Hollywood, Glendale. Last year, a total of 160 homes were sold in Burbank, North Hollywood, and Glendale. This year, that number dropped to 136 homes. That represents a decline of approximately 17% in sales volume.

Despite the decrease in the number of homes sold, the average sales price has increased. Last year, the average price was $1,208,000. This year, it has risen slightly to $1,238,000, which marks a 2% increase.

Interest rates have also seen a minor improvement, with rates standing at 7.02% last year compared to this year’s 6.842%. This reflects a decrease of about 1.78%.

“Summer is traditionally a busy season in real estate, as children are out of school and more families are ready to make a move.”

Wider market comparison: City of Los Angeles. Given the relatively small size of the local market, let’s see how things fared in the broader Los Angeles area. In 2024, there were 732 home sales across the city during this same period. That number came in at 709 this year, indicating a modest drop of about 3%.

While the decline in the number of sales was not dramatic, the average sales price in Los Angeles increased significantly. Last year, the average price was $1,636,000. This year, it rose to $1,891,000, which is an increase of more than 15%.

Compared to the Burbank, Glendale, and North Hollywood markets, Los Angeles as a whole is seeing stronger price growth. However, there are still many opportunities, especially for first-time home buyers. Several programs are available that offer down payment assistance and help with closing costs.

This is a particularly active time in the housing market. Summer is traditionally a busy season, as children are out of school and more families are ready to make a move. Both buyers and sellers tend to be more engaged during this period.

If you want to know more about the current market, just give me a call at 818-953-5300 or send an email to brad@bradkorb.com. I’m here to help.