Is San Fernando Valley, CA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing San Fernando Valley is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, San Fernando Valley has remained a Seller's Market.

Key Takeaway

San Fernando Valley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in San Fernando Valley, CA

How much do homes in San Fernando Valley, CA cost?

Median Sold Price

$928,813

$577/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$17,989(+2.0%)

Key Takeaway

Homes in San Fernando Valley have sold for 2% more than they did a year ago.

Summary: The median home sold price in San Fernando Valley was $928,813 in March 2024, up 2% from last year, and the median price per square foot was $577.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $415K$430K
+3.6%
2 $650.1K$666.4K
+2.5%
3 $888.9K$900K
+1.2%
4 $1.1M$1.1M
+1.0%
5+ $1.9M$1.9M
-1.1%

Summary: San Fernando Valley housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 1.1%.

Median Sold Price Compared To Nearby Cities

Glendale
+2.2%
San Fernando Valley
+2.0%
La Crescenta
+1.7%
Burbank
-1.1%

Housing Supply in San Fernando Valley, CA

How many homes are available in San Fernando Valley, CA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,8173,057+8.5%

Summary: The San Fernando Valley real estate market had 3,057 homes for sale in March 2024, a 8.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 96106
+10.4%
2 543596
+9.8%
3 9821,011
+3.0%
4 660693
+5.0%
5+ 536651
+21.5%

Summary: The San Fernando Valley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.4%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 21.5%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
682746+9.4%

Asking Price vs. Sold Price

275 Homes Were Sold
Under Asking

103 Homes Were Sold
At Asking

368 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in San Fernando Valley, you could pay more than the asking price. 49.3% of homes here sold above asking price last month.

Summary: A total of 746 homes were sold or pending in San Fernando Valley in March 2024, up by 9.4% month-over-month. Of the 746 sold homes, 37% were sold under asking, 14% were sold at asking, and 49% were sold over asking.

Days on Market for San Fernando Valley, CA

How long does it take to sell a home in San Fernando Valley, CA?

Average Sale Time

Mar 2023Mar 2024CHANGE
36 Days28 Days-21.1%

Summary: Homes in San Fernando Valley had an average of 28 days on market in Mar 2024, down by 21.1% compared to last year.

Breakdown of Home Sale Times

531 Homes Were Sold
Under 30 Days

153 Homes Were Sold
In 30 - 90 Days

62 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in San Fernando Valley are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 746 homes were sold in San Fernando Valley; 71% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 24 Days Ago

Newest Listings in San Fernando Valley, CA

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