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Friday, Jan 27, 2023
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Valley Home Sales Increase in January

January home sales in the San Fernando Valley increased 12.8 percent from a year ago, but new and existing homes sales were down 34.3 percent from Dec. 2009, according to the latest statistics from the San Fernando Valley Economic Research Center at CSUN. The month-to-month drop is largely attributable to January and February historically being slow home sales months, said the report. There were 1,108 sales in January, compared to 1,687 in Dec. 2009 and 982 in Jan. 2009. The Valley’s median price of a single family home has increased by an average of 1.4 percent per month since reaching a market low of $347,500 in March 2009. January’s median price of $398,750 is up 13.3 percent from the Jan. 2009 price of $352,000. But it dropped slightly from December 2009’s median price of $400,000, said the CSUN report. Southland Regional Association of Realtors, which only tracks resale numbers and covers a different geographical area than CSUN, reported a total of 698 closed escrows for Valley single family homes and condominiums in January. This compares to 873 closed escrows in Dec. 2009 and 684 in Jan. 2009. – Eric Billingsley

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