Burbank Real Estate Agent Ana Connell

Burbank single family home values are seeing an uptrend according to the latest data. (see chart below)

Average selling price has rebounded to$562,068, up 14% from December 2011 prices. Days on market were down from 89 to 84 days in the same period.

Overall the sweet spot right now continues to be in the $425-$525,000 range where most of the buyers seem to be concentrated.

Inventory is increasing somewhat, which is normal for this time of year, but overall levels are low.

Next week we will have a host of numbers out, including Housing Starts, Existing Home Sales, Producer Price Index and Consumer Price Index.

Burbank: Sales September 2011 - January 2012

Month Sale Price, Average Days to Sell, Average

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Burbank single family homes sold in September(see chart below) reflected an average selling price of $573, 014, up 13% from August 2011 prices. Days on market were down from 71 to 65 days in the same period.

Overall the sweet spot right now continues to be in the $400-$525,000 range where most of the buyers seem to be concentrated.

Next week we will have a host of numbers out, including Housing Starts, Existing Home Sales, Producer Price Index and Consumer Price Index.

Burbank: September 2011

All real estate is local and nothing illustrates that point better than the S&P Case Shiller Home Price Index that came out last week. It reported that the average home price for March in the 10 city composite was down .6%(non seasonally adjusted) and the 20 city composite was down .2%. Actually if you read the report, the overall data was not that bad, but obviously showed a downtrend in prices. 18 out of the 20 areas did show a downtrend when you look at the unadjusted three month average.

In case you are curious the S&P Case Shiller Home Price Index tracks monthly changes in home prices in 20 metropolitan areas and comes out monthly. The report focuses on single family homes and excludes condos and new construction. Please note that this data was for March, so it does have a two month lag.

Los Angeles County home prices dipped roughly 1.7% for the first quarter of 2011.

With that in mind, let's look at the average home prices for Burbank single family homes over the last 12 months:

Information is Believed To Be Accurate But Not Guaranteed CRMLS

There are several ways to parse the data.

There was a spike in the fourth quarter of last year and we are down 8% from the spike, however, year over year we went from $538,773 in May 2010 to $557,000 in May of 2011, an increase of 4%. From January of 2011 to May 2011 we saw an increase of 11% , as we rose from $505,809 to present levels.

Overall, Burbank home prices are showing strength, and there is no doubt that the current amount of short sales and foreclosures will continue to put pressure on prices.......but the picture here is not as dire as in other parts of the country. I know it's a pipe dream but it would be nice if local media were to comment on our numbers as well as the national numbers.

The Rancho Equestrian Neighborhood or "The Rancho" as it's commonly referred to, is bordered by Griffith Park to the south, Victory Blvd. to the east, Olive Avenue to the west and Alameda Ave. to the north. What makes this community so popular is that it's zoned for horses and it boasts beautiful winding, tree lined streets!

There are roughly 785 single family homes and many of those have stables. The community is represented by the Burbank Rancho Homeowners, a group formed in 1963 to represent the interests of the residents.

Rancho real estate is very sought after and tends to sell at a premium. In addition to the equestrian zoning, other amenities include it's adjacency to the Los Angeles Equestrian Center, connection to riding trails in Griffith Park and numerous parks.

It's common to see people on horseback along Riverside Drive, it's main thoroughfare. This scenic street is lined with Sycamore and Oak trees, some more than 70 years old. The Rancho, coincidentally, was the home to T.V. star and talking horse "Mr. Ed" along with Ava Gardner, Ronald Reagan and Tab Hunter as well as Bette Davis in the adjoining Glendale Rancho area.

The rancho is very desired for it's parks and open space. This includes Mountain View Park, Johnny Carson Park, Los Angeles' Griffith Park and Equestrain Center, Bette Davis Park (in the adjoining Glendale Rancho) and the neighborhood's Polliwog area, which extends along Disney Studios' animation building is used by local residents to exercise their horses.

It's been a favorite neighborhood of mine for many years and I highly recommend a look if you are exploring Burbank real estate.

One of City of Burbank's jewels is the DeBell Golf Course.

This venue offers a regulation eighteen hole course and a par 3 course. The layout of the Regulation Course is very tight and hilly, but enjoyable for beginners. Its ideal for the family to play. The women often play from two sets of tees on this course, while the men play from the same tees.

The 18-hole course at the DeBell Golf Club facility in Burbank, California features 5,633 yards of golf from the longest tees for a par of 71 . The course rating is 68.8 and it has a slope rating of 114 on Kikuyu grass.

The course was opened in 1959 and designed by William F. Bell, Richard Bigler and William H. Johnson. William F. Bell was a prolific designer and is best known for the design of Torrey Pines(with William P. Bell), Bermuda Dunes Country Club, the sandpiper and Industry Hills golf clubs.

If you want some good eats after your round of golf, check out the Clubhouse Grill. Open 7 days a week it offers cocktails and a great menu.