The median home price for a Burbank home in February was more than $100,000 above what it was during the same time last year, while home and condo sale numbers are holding steady, according to the latest real estate numbers.
The median cost for a single family residence last month was $638,000, a nearly 21% uptick from $527,750 in February 2013, according to statistics compiled by Realtor Eric Benz with Dilbeck Real Estate.
Condos were also selling for more with a median up 14.5% from $375,000 to $429,500, according to the data.
Linda Barnes, a Realtor with Keller Williams Realty in Burbank, said she doubts the market will see a rapid growth in prices as in the start of 2012, a scenario that has the makings for the bursting of another housing bubble.