Quick Answer: As of the most recent data available in September 2026, Burbank remains a seller’s market, though a fairly mild one. Redfin puts Burbank’s median sale price at roughly $1.25 million, up sharply from a year ago, while homes are taking about five to six weeks to sell on average. Inventory is still thin (under 160 active listings citywide), but fewer homes are selling above asking than a year ago, which gives buyers a bit more breathing room than the frantic markets of the past few years.
Meanwhile, mortgage rates sitting above 6.7% are keeping some buyers on the sidelines, tempering how far seller leverage actually goes.
What Is the Median Home Price in Burbank Right Now?
Pulling from Redfin’s most recent monthly data for Burbank, the median sale price came in at roughly $1,254,000, which is about 13.5% higher than the same month a year earlier. That is a notable jump, and it reflects both genuine price appreciation and a shift in the mix of homes that closed escrow that month (more larger or updated homes sold, which pulls the median up).
Zillow’s Home Value Index, which is a smoothed estimate of typical home value across the entire city rather than a snapshot of that month’s closed sales, tells a slightly different story: it shows Burbank’s typical home value essentially flat to slightly down year-over-year, in the neighborhood of $1.19 million. Zillow’s own separate median sale price figure landed around $1.2 million for the prior month, with a median list price closer to $1.28 million.
Why the difference between sources? Median sale price is sensitive to exactly which homes happened to sell in a given month, while a smoothed home value index tries to track the value of a typical, unchanged home over time. For sellers, the practical takeaway is the same either way: well-presented Burbank homes are still commanding strong prices, but the eye-popping year-over-year price jumps some headlines report should be read with a little caution.
Is Burbank a Buyer’s or a Seller’s Market Right Now?
By Redfin’s classification, Burbank is currently a seller’s market, though not an overheated one. Redfin scores the city around 66 out of 100 on its competitiveness scale, describing it as “somewhat competitive” rather than fiercely so. The typical Burbank listing is drawing around two offers, not the six-to-ten-offer bidding wars that defined 2021 and 2022.
That nuance matters for how you approach the market. Sellers still generally have the upper hand on pricing and terms, especially on well-located, move-in-ready homes in desirable pockets like the Rancho District, Toluca Lake-adjacent streets, and the Magnolia Park area. But buyers today have more room to negotiate, ask for repairs, and walk away from overpriced listings than they did during the peak of the pandemic-era frenzy.
How Long Are Homes Taking to Sell in Burbank?
Redfin’s data shows a median of about 39 days on market for homes that sold recently in Burbank, up roughly four days compared to a year earlier. Redfin separately notes that typical Burbank listings are going pending in around 41 days and, on average, selling close to their list price.
Zillow’s figures point to a shorter pending timeline, closer to three weeks, though pending timelines and full days-on-market figures are measured differently and aren’t directly interchangeable. Put simply: homes that are priced right and show well are still moving at a healthy pace, generally within four to six weeks, but the days of an average home going pending within a week of listing have cooled somewhat.
How Much Inventory Is Available in Burbank?
Active inventory in Burbank remains fairly tight in absolute terms. Redfin and Zillow both put the number of homes currently for sale across Burbank’s zip codes somewhere in the 155-to-160 range at last check. For a city of Burbank’s size, that is a modest but not extreme selection, and it’s part of why well-priced homes still tend to attract multiple interested buyers rather than sitting.
This is one area where I’d encourage caution about specific year-over-year inventory percentages you might see quoted elsewhere. Reliable, verified month-over-month inventory comparisons specific to Burbank weren’t available at the time of writing, so rather than guess at a number, the honest takeaway is this: supply is limited enough to keep sellers in a reasonably strong position, but not so limited that buyers have zero options or leverage.
Are Homes Selling Above or Below Asking Price?
According to Redfin, about half of Burbank homes (50.4%) sold above their list price in the most recent reporting month, a slight step down (about 2.6 percentage points) from a year earlier. Zillow’s figures put the share of homes closing above list somewhat higher, near 56%. The overall sale-to-list price ratio from Redfin sits at roughly 101.4%, meaning the typical home is still closing at or just slightly above its asking price, a hair below where it stood a year ago.
What this tells buyers: pricing strategy from the seller’s side still matters enormously. Homes that are priced aggressively (below true market value to generate interest) are the ones most likely to spark competition and sell over asking. Homes priced at or above fair market value are more likely to sit, get a price reduction, and eventually sell closer to or even under list.
How Does September 2026 Compare to a Year Ago?
Stacking today’s numbers against last year’s, the overall picture is a market that has cooled slightly from its most competitive edges without flipping to favor buyers outright. Days on market are up modestly, the share of homes selling above asking has ticked down, and the sale-to-list ratio has eased just slightly. At the same time, reported median sale prices are still running well ahead of where they were a year ago, and homes sold (a measure of overall sales activity) were up over 9% year-over-year in Redfin’s most recent snapshot, suggesting buyer demand hasn’t dried up.
In plain terms: Burbank hasn’t cooled off dramatically, but it has settled into a steadier rhythm compared with the sharper seller’s-market conditions of recent years. It is less frantic, but still competitive for the right homes.
What Are Mortgage Rates Doing, and How Does That Affect Burbank Buyers?
Mortgage rates are a big piece of the affordability puzzle right now. Freddie Mac’s weekly survey showed the average 30-year fixed rate at 6.71% for the first week of September 2026, ticking up slightly from the prior week. Rates in the high 6% range keep monthly payments elevated relative to a few years ago, which is part of why buyer competition, while still present, isn’t as intense as it was when rates sat closer to 3%.
For Burbank buyers, that means qualifying for the home you want takes a more careful look at your budget and financing options, whether that’s rate buydowns, adjustable-rate options, or simply adjusting your price range. For sellers, higher rates are one reason to stay realistic on pricing rather than assuming the bidding wars of 2021 are still the norm.
What Should Buyers and Sellers Do With This Information?
If you’re buying in Burbank right now, the market still rewards being prepared: a strong pre-approval, a clear sense of your top few neighborhoods, and readiness to move quickly on a well-priced home, since the best listings are still drawing multiple offers. At the same time, you likely have more room than in recent years to negotiate on overpriced or stale listings, especially anything that has been sitting close to or beyond that 39-to-41-day median.
If you’re selling, accurate pricing from day one remains the single biggest lever you control. Homes priced to reflect current conditions, not last year’s headlines, are the ones generating multiple offers and selling at or above asking. Overpricing in a market where days on market are creeping up is the fastest way to end up chasing the market down with price cuts.
Either way, the numbers change month to month, and Burbank’s individual neighborhoods (the Rancho District, Magnolia Park, Toluca Lake-adjacent streets, and the areas near the Media District) can each move somewhat differently than the citywide averages above. A conversation about your specific street or property type is always going to be more useful than any citywide snapshot, including this one.
Frequently Asked Questions
What is the median home price in Burbank, CA in 2026?
Recent Redfin data puts Burbank’s median sale price at roughly $1.25 million, while Zillow’s broader home value index shows typical values closer to $1.19 million. The gap reflects differences in how each source calculates its numbers, but both point to a market still solidly above the $1 million mark citywide.
Is Burbank currently a buyer’s market or a seller’s market?
Burbank is currently classified as a seller’s market by Redfin, though a moderately competitive one rather than an extreme one. Sellers generally still have an edge on pricing, but buyers have more negotiating room than during the most competitive years of the recent past.
How long do homes take to sell in Burbank right now?
Homes in Burbank are taking a median of about 39 days to sell, according to Redfin, which is a few days longer than the same period a year ago. Well-priced, move-in-ready homes tend to sell faster, while overpriced listings often sit well beyond that median.
Are homes in Burbank selling above the asking price?
Yes, roughly half of Burbank homes are still selling above their list price, though that share has ticked down slightly compared to a year ago. The overall sale-to-list ratio is just above 100%, meaning most homes are closing at or slightly above asking.
How much housing inventory is available in Burbank?
Active inventory in Burbank is running somewhere in the 155-to-160 home range citywide, based on recent Redfin and Zillow figures. That is a modest supply for the city’s size, which helps explain why well-priced listings continue to attract buyer interest.
How does the Burbank market compare to a year ago?
Compared to a year ago, Burbank’s market has cooled slightly at the edges: days on market are up a bit, and fewer homes are selling over asking. At the same time, overall sales activity and reported prices remain strong, so it’s a steadier market rather than a dramatically different one.
What are current mortgage rates doing to Burbank buyer demand?
The average 30-year fixed mortgage rate was about 6.71% in early September 2026, according to Freddie Mac. Rates in this range keep monthly payments elevated, which is one reason buyer competition, while still present, isn’t as intense as it was when rates were much lower.
Should I sell my Burbank home now or wait?
If your home is well-maintained and priced accurately for current conditions, there is still solid buyer demand supporting a sale now. Waiting only makes sense if your specific property, timeline, or financial situation calls for it, since no one can reliably predict whether conditions a year from now will be more or less favorable.
What Burbank neighborhoods are seeing the most demand?
Demand tends to concentrate around well-located, move-in-ready homes in areas like the Rancho District, streets near Magnolia Park, and pockets close to Toluca Lake and the Media District. Citywide averages are a useful starting point, but individual neighborhoods and even specific blocks can perform differently.
Is now a good time to buy a home in Burbank?
It depends on your personal timeline and finances more than on trying to perfectly time the market. Buyers today generally have a bit more negotiating leverage than in recent peak years, even though prices and rates both remain elevated compared to several years ago.
This article reflects general Burbank housing market conditions believed accurate as of publication and is not a substitute for a current comparative market analysis. Market conditions change quickly, so contact a local agent for up-to-date data before making a decision.
About Will Flannigan
Will Flannigan is a California licensed real estate agent (DRE #01951292) and Certified Trust & Probate Specialist (CTPS) with The Nell Team at Equity Union Real Estate. A former attorney, Will brings a background in property management and over a dozen home flips to every transaction, and has been licensed since 2014. A 20+ year resident of Burbank Rancho, Will specializes in Burbank, Altadena, Pasadena, Glendale, and the greater San Gabriel Valley, with fluency in Mandarin serving clients in San Marino and beyond.
Wondering what your Burbank home is worth in today’s market, or ready to start your search? Let’s talk numbers.
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