Is Van Nuys, 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, Van Nuys has remained a Seller's Market.
Key Takeaway
Van Nuys is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Van Nuys, CA
How much do homes in Van Nuys, CA cost?
Median Sold Price
$840,000
$497/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Van Nuys have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Van Nuys was $840,000 in March 2024, up 4.3% from last year, and the median price per square foot was $497.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $375K | $365K | -2.7% |
| 2 Bedrooms | $493.5K | $520K | +5.4% |
| 3 Bedrooms | $860K | $855K | -0.6% |
| 4 Bedrooms | $1.0M | $911.5K | -8.8% |
| 5+ Bedrooms | $1.4M | $1.4M | -1.7% |
Summary: Van Nuys housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes increased by 5.4%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 8.8%, and 5+ bedroom homes decreased by 1.7%.
Median Sold Price Compared To Nearby Neighborhoods
| North Hills | $815K | $851K | +4.4% |
| Van Nuys | $805K | $840K | +4.3% |
| Valley Glen | $973.3K | $1.0M | +3.9% |
| The San Fernando Valley | $878.1K | $897.4K | +2.2% |
| Panorama City | $640K | $650K | +1.6% |
Housing Supply in Van Nuys, CA
How many homes are available in Van Nuys, CA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 87 | 93 | +6.9% |
Summary: The Van Nuys real estate market had 93 homes for sale in March 2024, a 6.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 20 | 30 | +50.0% |
| 3 Bedrooms | 30 | 32 | +6.7% |
| 4 Bedrooms | 22 | 16 | -27.3% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Van Nuys housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 17 | 22 | +29.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Van Nuys, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Van Nuys in March 2024, up by 29.4% month-over-month. Of the 22 sold homes, 27% were sold under asking, 18% were sold at asking, and 55% were sold over asking.
Days on Market for Van Nuys, CA
How long does it take to sell a home in Van Nuys, CA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +6.0% |
Summary: Homes in Van Nuys had an average of 31 days on market in Mar 2024, up by 6% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Van Nuys are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Van Nuys; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% 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.