January 12, 2008
Comparative Market Analysis For Burbank Condos
I ran a CMA on the MLS for attached condos in Burbank, for the past year, 1200-1500 sq/ft , and with 3 bedrooms.
Here’s what I found.
The average listing price is: $545,000
The average sold price is: $570,000
This data is showing a $25,000 drop in values (list to sold). Usually listings are priced higher than selling prices.
LukkhaCoder said:
I am a little bit confused. Does this mean that the condos are selling for more than their list price?
January 13, 2008 6:28 PM
Ron DeGenova said:
Dear LukkhaCoder,
My post was to indicate that average listing prices are now below average selling prices. In order to get a good sampling of data, I looked at closed sales over the past year. Then I pulled current active listings and compared the total averages.
Hope that clears up any confusion.
Thanks for your question….
January 14, 2008 10:06 PM
LukkhaCoder said:
Yes, it does clear up the confusion. Thank you.
January 14, 2008 10:22 PM