In Burbank, CA, what is a typical difference between listing and selling price in the current market

Asked by Kathryn Kinsella, Burbank, CA Fri Aug 1, 2008

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Keith Sorem’s answer
Keith Sorem, Agent, Glendale, CA
Fri Aug 1, 2008
Kathryn
The list price versus the selling price ratio is an average of all homes sold. You should know that in most cases there is also a variance between price points. That is to say that an overall average figure may not reflect the variance at say, below $400K, or above $900K,

The overall average list price was $514,082
The overall average sold price $501,191, yielding a LP vs. Sp ratio of 97.4%
In July of 2007 it was 98.3%, so one can see the effects of the market shift.
0 votes
Gary Gukassi…, , Pasadena, CA
Fri Aug 1, 2008
Hi Kathryn,
I have been servicing the real estate market in the Burbank for some time now and have not seen a big difference between the list and sale price. Actually, in some instances the sale price has been over the list price. It depends on the area, condition of the house, and amount of time on the market.

Let me know if you have any other questions. 818-303-4093
0 votes
Monique & Joe…, Agent, Beverly Hills, CA
Fri Aug 1, 2008
Hello Kathryn,

For June, the average home sold for 97.1 percent of the list price in Burbank. The stats aren't up for July yet.

Best,

Monique Carrabba
The Reavis Group
Keller Williams Wilshire
Web Reference:  http://www.thereavis.com
0 votes
A, Home Buyer, Los Angeles, CA
Fri Aug 1, 2008
Dear David Krecker,
Why dont you provide the information here, so that other people can also benefit from it. I am sure information from a state licensed appraiser will be useful to many people.
0 votes
David Krecker, Landlord, Whittier, CA
Fri Aug 1, 2008
Ignore the list price..... each property needs to be evaluated on its own merits. I'm a broker/owner and state licensed appraiser.... I can provide you much more accurate information to assist you. Email me or call.
Web Reference:  http://www.centuryside.com
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