Is Northwest District, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Northwest District has remained a Seller's Market.
Key Takeaway
Northwest District is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest District, CA
How much do homes in Northwest District, CA cost?
Median Sold Price
$1,025,000
$749/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Northwest District have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Northwest District was $1,025,000 in April 2024, up 2.7% from last year, and the median price per square foot was $749.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $630K | - | N/A |
| 2 Bedrooms | $817.5K | $915K | +11.9% |
| 3 Bedrooms | $1.0M | $1.0M | +7.5% |
| 4 Bedrooms | $1.3M | $1.2M | -8.4% |
| 5+ Bedrooms | $1.4M | $1.2M | -12.0% |
Summary: Northwest District housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 8.4%, and 5+ bedroom homes decreased by 12%.
Median Sold Price Compared To Nearby Neighborhoods
| Chandler Park | $1.1M | $1.2M | +4.3% |
| The Verdugos | $1.1M | $1.2M | +4.1% |
| The San Fernando Valley | $874.2K | $900.2K | +3.0% |
| Northwest District | $998K | $1.0M | +2.7% |
| North Hollywood | $849.6K | $844.7K | -0.6% |
Housing Supply in Northwest District, CA
How many homes are available in Northwest District, CA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 23 | -4.2% |
Summary: The Northwest District real estate market had 23 homes for sale in April 2024, a 4.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Northwest District housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 9 | -10.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest District, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Northwest District in April 2024, down by 10.0% month-over-month. Of the 9 sold homes, 11% were sold under asking, 11% were sold at asking, and 78% were sold over asking.
Days on Market for Northwest District, CA
How long does it take to sell a home in Northwest District, CA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 13 Days | -52.5% |
Summary: Homes in Northwest District had an average of 13 days on market in Apr 2024, down by 52.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest District are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in Northwest District; 89% of homes were sold within 30 days, 11% 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.