Is Van Nuys, CA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Van Nuys has remained a Seller's Market.
Housing Prices in Van Nuys, CA
How much do homes in Van Nuys, CA cost?
Median Sold Price
$840,000
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Van Nuys was $840,000 in May 2024, up 5% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $372.5K | $365K | -2.0% |
2 Bedrooms | $490K | $541K | +10.4% |
3 Bedrooms | $830K | $850.5K | +2.5% |
4 Bedrooms | $972.5K | $910.2K | -6.4% |
5+ Bedrooms | $1.3M | $1.4M | +12.1% |
Summary: Van Nuys housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 6.4%, and 5+ bedroom homes increased by 12.1%.
Median Sold Price Compared To Nearby Neighborhoods
Valley Glen | $969K | $1.0M | +5.8% |
North Hills | $815K | $860K | +5.5% |
The San Fernando Valley | $864.2K | $908.7K | +5.1% |
Van Nuys | $799.9K | $840K | +5.0% |
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
Apr 2024 | May 2024 | CHANGE |
---|---|---|
98 | 110 | +12.2% |
Summary: The Van Nuys real estate market had 110 homes for sale in May 2024, a 12.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 36 | 38 | +5.6% |
3 Bedrooms | 33 | 39 | +18.2% |
4 Bedrooms | 11 | 12 | +9.1% |
5+ Bedrooms | 15 | 19 | +26.7% |
Summary: The Van Nuys housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 18.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
28 | 20 | -28.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Van Nuys in May 2024, down by 28.6% month-over-month. Of the 20 sold homes, 15% were sold under asking, 5% were sold at asking, and 80% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
33 Days | 33 Days | 0.4% |
Summary: Homes in Van Nuys had an average of 33 days on market in May 2024, up by 0.4% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Van Nuys; 60% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.