$10,000 Closing Credit*
$1,175,000
Nooshin Zarrabi, Listing Office: Remax Optima
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 October 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
$937,575
$576/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$67,315(+7.7%)
Key Takeaway
Homes in The San Fernando Valley have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in The San Fernando Valley was $937,575 in October 2024, up 7.7% from last year, and the median price per square foot was $576.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $390K | $390K | 0.0% |
| 2 Bedrooms | $612.2K | $650.8K | +6.3% |
| 3 Bedrooms | $835.7K | $890K | +6.5% |
| 4 Bedrooms | $1.0M | $1.1M | +8.7% |
| 5+ Bedrooms | $1.8M | $1.8M | -1.3% |
Summary: The San Fernando Valley housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes decreased by 1.3%.
Median Sold Price Compared To Nearby Neighborhoods
| The San Fernando Valley | $870.2K | $937.5K | +7.7% |
| Van Nuys | $817.5K | $825.6K | +1.0% |
Housing Supply in The San Fernando Valley, CA
How many homes are available in The San Fernando Valley, CA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3,149 | 3,497 | +11.1% |
Summary: The The San Fernando Valley real estate market had 3,497 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 98 | 104 | +6.1% |
| 2 Bedrooms | 600 | 648 | +8.0% |
| 3 Bedrooms | 1,016 | 1,098 | +8.1% |
| 4 Bedrooms | 799 | 899 | +12.5% |
| 5+ Bedrooms | 636 | 748 | +17.6% |
Summary: The The San Fernando Valley housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.1%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 17.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 605 | 672 | +11.1% |
Asking Price vs. Sold Price
277 Homes Were Sold
Under Asking
98 Homes Were Sold
At Asking
297 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. 44.2% of homes here sold above asking price last month.
Summary: A total of 672 homes were sold or pending in The San Fernando Valley in October 2024, up by 11.1% month-over-month. Of the 672 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +8.2% |
Summary: Homes in The San Fernando Valley had an average of 31 days on market in Oct 2024, up by 8.2% compared to last year.
Breakdown of Home Sale Times
441 Homes Were Sold
Under 30 Days
185 Homes Were Sold
In 30 - 90 Days
46 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 October 2024, 672 homes were sold in The San Fernando Valley; 66% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 7% 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.