12 Aug San Fernando Valley Home Prices Hit All-Time High

San Fernando Valley homes sold for record high prices in the month of June.

Last year, the median home sales price was $708,000. This year it rose $15,000 to $722,000.

Condo prices also set a record with a median price of $455,000. According to Southland Regional Association of Realtors President Dan Tresierras, ” Low interest rates on home loans translated into greater buying power, which kept more prospective buyers in the hunt for a home. Yet that wound up pushing resale prices higher as inventory, while showing some improvement compared to a year ago, has seen smaller gains since peaking earlier this year.”

This market update was brought to you by Michael Bloom Rodeo Realty Calabasas, DRE#01188440 contact info: 818-207-2088 email: michael@michaelbloomhomes.com