Short sales and foreclosures are almost non-existent and now standard sales have taken over the Toluca Lake/Burbank market. Opportunistic sellers, who have been waiting for the real estate market to turn the corner, have seen the light!
Per the Santoro And Sons Real Estate Report — there were 128 sales for 2012. As of the first week of Oct. 2013, there have been 127 sales with almost three months remaining in the year. Clearly, we are set to beat 2012 in total sales for the year. Even more interesting are average sale prices per month. We are projecting an increase in sales prices of approximately 54% over 2012.
Many factors contribute to this change in the market – interest rates, consumer confidence, and most importantly, short sales/foreclosures drying up. The market is more realistic and sellers who have been ready to sell, but waiting for the market to recover are listing their homes.
Call Santoro And Sons Real Estate Group for a full report on your home and area.
Gigi Santoro: (818) 237-5687. SantoroAndSons.com.