$5,926 Closing Credit*
$499,000
930 SqFt
1 Bed
•2 Full Baths
Vahagn Stephen, Listing Office: Coldwell Banker Hallmark
Is Lake Balboa, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Lake Balboa has remained a Seller's Market.
Key Takeaway
Lake Balboa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Balboa, CA
How much do homes in Lake Balboa, CA cost?
Median Sold Price
$879,500
$611/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$24,500(+2.9%)
Key Takeaway
Homes in Lake Balboa have sold for 2.9% more than they did a year ago.
Summary: The median home sold price in Lake Balboa was $879,500 in December 2024, up 2.9% from last year, and the median price per square foot was $611.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $805K | N/A |
| 2 Bedrooms | $700K | $737.5K | +5.4% |
| 3 Bedrooms | $850K | $875K | +2.9% |
| 4 Bedrooms | $950K | $1.0M | +7.9% |
| 5+ Bedrooms | $1.2M | $1.6M | +28.0% |
Summary: Lake Balboa housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 28%.
Median Sold Price Compared To Nearby Neighborhoods
| The San Fernando Valley | $878.6K | $939.9K | +7.0% |
| Northridge | $969.5K | $1.0M | +6.2% |
| Lake Balboa | $855K | $879.5K | +2.9% |
| Van Nuys | $824.6K | $828.5K | 0.5% |
Housing Supply in Lake Balboa, CA
How many homes are available in Lake Balboa, CA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 59 | 47 | -20.3% |
Summary: The Lake Balboa real estate market had 47 homes for sale in December 2024, a 20.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 7 | -30.0% |
| 3 Bedrooms | 31 | 25 | -19.4% |
| 4 Bedrooms | 13 | 10 | -23.1% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The Lake Balboa housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30%, 3 bedroom homes decreased by 19.4%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Balboa, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Lake Balboa in December 2024, down by 15.8% month-over-month. Of the 16 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% were sold over asking.
Days on Market for Lake Balboa, CA
How long does it take to sell a home in Lake Balboa, CA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 37 Days | 24 Days | -33.6% |
Summary: Homes in Lake Balboa had an average of 24 days on market in Dec 2024, down by 33.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Balboa are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 16 homes were sold in Lake Balboa; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.