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 March 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
$897,406
$554/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in The San Fernando Valley have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in The San Fernando Valley was $897,406 in March 2024, up 2.2% from last year, and the median price per square foot was $554.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $400K | +1.3% |
| 2 Bedrooms | $615.5K | $635.5K | +3.3% |
| 3 Bedrooms | $850.3K | $858.2K | +0.9% |
| 4 Bedrooms | $1.0M | $1.1M | +2.3% |
| 5+ Bedrooms | $1.8M | $1.7M | -2.9% |
Summary: The 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 1.3%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Neighborhoods
| Van Nuys | $805K | $840K | +4.3% |
| The San Fernando Valley | $878.1K | $897.4K | +2.2% |
Housing Supply in The San Fernando Valley, CA
How many homes are available in The San Fernando Valley, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2,327 | 2,524 | +8.5% |
Summary: The The San Fernando Valley real estate market had 2,524 homes for sale in March 2024, a 8.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 77 | 85 | +10.4% |
| 2 Bedrooms | 434 | 464 | +6.9% |
| 3 Bedrooms | 815 | 841 | +3.2% |
| 4 Bedrooms | 562 | 591 | +5.2% |
| 5+ Bedrooms | 439 | 543 | +23.7% |
Summary: The 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 6.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 23.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 577 | 615 | +6.6% |
Asking Price vs. Sold Price
224 Homes Were Sold
Under Asking
89 Homes Were Sold
At Asking
302 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. 49.1% of homes here sold above asking price last month.
Summary: A total of 615 homes were sold or pending in The San Fernando Valley in March 2024, up by 6.6% month-over-month. Of the 615 sold homes, 36% were sold under asking, 14% were sold at asking, and 49% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 26 Days | -26.0% |
Summary: Homes in The San Fernando Valley had an average of 26 days on market in Mar 2024, down by 26% compared to last year.
Breakdown of Home Sale Times
437 Homes Were Sold
Under 30 Days
136 Homes Were Sold
In 30 - 90 Days
42 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 March 2024, 615 homes were sold in The San Fernando Valley; 71% of homes were sold within 30 days, 22% 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.