Gigi Santoro, SantoroAndSons.com, has been a real estate professional for many years. The real estate market has been on a good ride and while the national forecast can appear to be a bit unsettling, here are the statistics as of January 16, 2019 in the Burbank 91505 market:
- Single family median priced home list price in 91505: $874,500
- Price per square foot average in 91505: $637.00
- Current highest listed single family home in 91505: $1,599,000
- Current lowest listed single family home in 91505: $635,000
- Current inventory in 91505: 26
- Current days on market in 91505: 56 days
- Current Market Action Index in 91505: 44 (anything above 30 is considered a sellers’ market). The Altos Research Company has projected the Market Action Index to remain steady.
“The market last year was volatile; I am happy to see rates getting back into the low 4-percent range. We are back where we were at the beginning of last year. It is a great time to get into the market if you are thinking about it.” -Brett Doscher, Loan Professional at Augusta Financial
Let’s talk about “micro-markets,” walkability, quality of life and demographics. Within any city there are optimal places to live; those places are generally on the market for less time and have more interested buyers canvassing neighborhoods to find a house. This creates a “micro-market” and can mean the cost is higher to buy in that area because demand is higher. Buyers are no longer thinking they need to wait for the “season” to buy a house and many sellers are catching on that it might be better to be one of the only houses for sale than be in a competitive situation with a glut in the market. Agents are seeing a more steady release of inventory throughout the year and that has reshaped how they approach their clients.
If you are thinking of selling, this would be a good time to call Gigi Santoro and have her put together a competitive market analysis. She can guide you through the process of getting your house ready for sale, where you might like to move to, and how to get you there. Santoro’s relationships with many vendors, from painters to gardeners, can really make your transition easy and smooth.
Call Gigi Santoro at (818) 237-5687 for more information. If you are interested in learning what the escrow process is or how to take Title to your new home, please check out Gigi’s website for many great videos on real estate topics that you might find interesting. Visit SantoroAndSons.com, click the Learning Center tab on top.