i am san fernando is happy to introduce a new section devoted to the San Fernando Valley real estate market. Guest writer Jeffery Marino, who currently works as a communications specialist for Redfin.com, will periodically keep us updated on the latest home-buying trends in the eastern regions of the SFV.
This roundup of recent home sales reveals that San Fernando Valley housing is in high demand this summer, with many homes selling very quickly and above their original list price. Homes in the greater Los Angeles area spent a median of 17 days on the market in June 2015, which is much fewer than the national median of 26 days. But many homes in the San Fernando Valley are selling in fewer than two weeks, such as the Arleta home featured below that went pending in just 11 days.
Homes in North Hills appear to be especially in high demand, such as the ranch style home featured here that sold for $525,000 in just 7 days. Buyers in North Hills are facing stiff competition as homes for sale there received an average of 4.5 offers over the past 90 days.
Other fast markets in the San Fernando Valley include North Hollywood, Van Nuys and Mission Hills where many homes are off the market within 15 days of being listed for sale.
Real estate data provided by Redfin