San Fernando Valley Homebuyers Face Competition in a Fast Market

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.

Arleta

Arleta Home

13249 Reliance St. Sold: $410,000

Arleta Data

 View all recently sold homes in Arleta

Mission Hills

15306 Mayall St. Sold: $459,000

View all recently sold homes in Mission Hills

North Hills

15831 Romar St. Sold: $525,000

View all recently sold homes in North Hills

North Hollywood

10915 Hartsook St. Sold: $825,000

View all recently sold homes in North Hollywood

Pacoima

10517 El Dorado Ave. Sold: $450,000

View all recently sold homes in Pacoima

Panorama City

7974 Cantaloupe Ave. Sold: $360,000

View all recently sold homes in Panorama City

San Fernando

2042 8th St. Sold: $380,000

View all recently sold homes in San Fernando

Sun Valley

9772 Sunland Blvd. (Shadow Hills) Sold: $789,000

View all recently sold homes in Sun Valley

Sylmar

13337 Herrick Ave. Sold: $800,000

View all recently sold homes in Sylmar

Van Nuys

16043 Leadwell St. Sold: $390,000

View all recently sold homes in Van Nuys

Real estate data provided by Redfin

written by

Jeffery Marino is a Southern California native who has lived all over the Golden State and currently resides in Los Angeles. He first developed his passion for real estate and economics while earning his M.A. in comparative literature and critical theory at the University of California, Santa Cruz. Jeffery has been studying and writing about the California real estate market for over five years and remains fascinated by the many challenges Californians face when it comes to finding suitable and affordable housing.

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