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San Fernando
Thursday, Apr 25, 2024

Home Sales Continue to Fall

The number of single family home sales in the San Fernando Valley fell nearly 33 percent to 825 in August and median home prices remained relatively stable compared to the year-earlier figures, according to data just released by Southland Regional Association of Realtors. Condominium sales were down 34 percent from the prior year period, the data revealed. The median price of homes sold last month was $610,000, up 2 percent from a year ago and down 2 percent from a median of $625,000 set in June. The median price of condos was $380,000, up 1.3 percent from the year ago figure and down 8 percent from a high of $415,000 set in February. “Sellers who are realistic, willing to negotiate and not pining for last year’s mad market are selling their homes and finding the biggest selection of replacement properties in years,” said Steve White, president of the SRAR.

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