Is The San Fernando Valley, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, The San Fernando Valley has remained a Seller's Market.
Key Takeaway
The San Fernando Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in The San Fernando Valley, CA
How much do homes in The San Fernando Valley, CA cost?
Median Sold Price
$908,700
$563/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in The San Fernando Valley have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in The San Fernando Valley was $908,700 in May 2024, up 5.1% from last year, and the median price per square foot was $563.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $385K | $399.3K | +3.7% |
| 2 Bedrooms | $610.2K | $640.1K | +4.9% |
| 3 Bedrooms | $837.5K | $869.9K | +3.9% |
| 4 Bedrooms | $1.0M | $1.1M | +6.0% |
| 5+ Bedrooms | $1.7M | $1.8M | +6.4% |
Summary: The San Fernando Valley housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.7%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Neighborhoods
| The San Fernando Valley | $864.2K | $908.7K | +5.1% |
| Van Nuys | $799.9K | $840K | +5.0% |
Housing Supply in The San Fernando Valley, CA
How many homes are available in The San Fernando Valley, CA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,742 | 3,083 | +12.4% |
Summary: The The San Fernando Valley real estate market had 3,083 homes for sale in May 2024, a 12.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 99 | 107 | +8.1% |
| 2 Bedrooms | 484 | 557 | +15.1% |
| 3 Bedrooms | 921 | 1,002 | +8.8% |
| 4 Bedrooms | 673 | 744 | +10.5% |
| 5+ Bedrooms | 565 | 673 | +19.1% |
Summary: The The San Fernando Valley housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 19.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 705 | 704 | -0.1% |
Asking Price vs. Sold Price
225 Homes Were Sold
Under Asking
84 Homes Were Sold
At Asking
395 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in The San Fernando Valley, you could pay more than the asking price. 56.1% of homes here sold above asking price last month.
Summary: A total of 704 homes were sold or pending in The San Fernando Valley in May 2024, down by 0.1% month-over-month. Of the 704 sold homes, 32% were sold under asking, 12% were sold at asking, and 56% were sold over asking.
Days on Market for The San Fernando Valley, CA
How long does it take to sell a home in The San Fernando Valley, CA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 22 Days | -21.6% |
Summary: Homes in The San Fernando Valley had an average of 22 days on market in May 2024, down by 21.6% compared to last year.
Breakdown of Home Sale Times
551 Homes Were Sold
Under 30 Days
129 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in The San Fernando Valley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 704 homes were sold in The San Fernando Valley; 78% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
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