A drop in rates and steady prices are creating solid opportunities in Burbank. Here’s a detailed look at the market trends and what they mean for buyers and sellers.

Is now the right time to start shopping for a home in Burbank? With interest rates dipping below 6% for the first time since September 2022, a lot of people are starting to take a second look after a long stretch of higher borrowing costs.

I’m already seeing it show up in real conversations, with more buyers calling and emailing about loan options and getting started earlier than usual, which is often one of the first signs the market is beginning to wake up.

With that in mind, let’s take a closer look at what’s happening in Burbank’s housing market.

Burbank–Glendale North market update. Looking at the local numbers, 147 homes sold in December of last year compared to 140 this year. That’s a modest dip of about 5%, showing that activity remains relatively steady year over year.

“Easing rates and rising activity create opportunities for buyers and sellers alike.”

Pricing trends. Average sales prices have been similarly stable. Last December, the average sales price was $1,189,000, compared to $1,174,000 this December. That’s a decrease of roughly two percent, indicating only slight movement in pricing.

Interest rates. In December 2024, interest rates averaged 6.863%. By the end of this year, they were at 6.159%, a drop of about 0.704%. Since then, rates have moved even lower into the upper five percent range, reinforcing the current shift we’re seeing.

With buyers coming out earlier than normal and rates easing, this is a strong moment to start paying attention, whether you’re buying or selling. This market is creating opportunities on both sides.

Preparation matters more than ever, and those who act early get ahead. If you have questions about interest rates, getting qualified, or looking at homes, don’t hesitate to reach out at 818-953-5300 or send an email to brad@bradkorb.com. I look forward to connecting.