The San Fernando Valley real estate market is showing signs of steady growth — some neighborhoods are downright hot! Looking at the Valley as a whole (broken into north and south sections by Redfin), the market is representative of the greater Los Angeles area. The median sale price in the Valley was about $500,000 as of August and home sales increased about 10 percent, a very similar picture to all of L.A.
But there are a few standout neighborhoods in the Valley that are obviously in high demand by homebuyers. The typical home was off the market in just 12 days in Valley Village — the fastest market in all of L.A. Sherman Oaks and Van Nuys homes typically sold within 15 days. To put this in perspective, the median number of days on the market for the entire U.S. is 32.
Sylmar was an especially hot market in August. The median sale price increased over 11 percent from last year and home sales were up over 20 percent. With a median sale price of $405,000, it is still one of the most affordable areas of the Valley, which is undoubtedly why it is in such high demand.
Take a look below to find out what’s happening in your neighborhood.
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