Mid-August marks the end of peak buying season, and with rates dropping, now may be the perfect time to make your move and secure the best deals.

Is this the best time to buy or sell a home in Burbank? Interest rates just hit their lowest point since April, and that’s good news for both buyers and sellers. In a market where every fraction of a percent matters, this drop could mean more buying power or a better return when selling. Here’s what you need to know before making a move in the market.

Summer is the peak selling season. Mid-August marks the return to school, which means families are making their moves now. This is when most listings hit the market, and demand stays high. If you're buying, you’ll have more options. If you're selling, this is when serious buyers are out in full force.

Builder incentives. Lennar is offering homebuyer incentives that haven’t been this strong since 2009. If you're working with them on a new home purchase, this could be a rare chance to take advantage of benefits we haven’t seen in over a decade.

“Summer is when most listings hit the market, and demand stays high.”

Local sales, prices, and rates update. From June 2024 to 2025, a total of 137 homes were sold across Burbank, North Hollywood, and Glendale. This is slightly up from 134 homes the previous year. While the increase is small, it reflects a stable and active market with consistent buyer and seller activity.

Home prices also saw a modest climb, rising from an average of $1,145,000 to $1,179,000, an overall 2% increase. At the same time, mortgage rates shifted slightly in buyers’ favor, moving from 6.938% to 6.648%, which translates to roughly a 4% drop. There's still a possibility that rates may continue to ease as the year progresses, creating even more favorable conditions ahead.

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.

If you’re thinking about buying or selling, now’s the time to act. You can call me at 818-953-5300 or send an email to brad@bradkorb.com, and I’ll answer any questions you might have or help you explore your options. Let’s take full advantage of this prime summer market.