Checking the Hot Sheet today shows me that there were 20 NEW Residential Property Listings* in the San Fernando Valley. put on the market ranging from a $174,950 Condo in Tarzana to a $1,399,000 Single Family home in Sherman Oaks.
Additionally, there were 18 Closed Sales*. Closed sales range from a Co-op in Studio City sold at $280,000 to a Single Family house in Encino that closed at $1.2m.
These numbers are higher than they were a few days ago!
Southern California has been a market to watch. Home prices swelled earlier in the decade only to drop as much as 20-30%+ over the last 9 months alone. With the flood of foreclosures and short-sales prices may continue to decline which really hurts those in the market to sell. However, it is a perfect time for First Time Home Buyers and Investors to pick up properties at huge discounts.
If you find this information useful, please let me know. Local Realtors all have access to this information but without being a member or an affiliate member of the local Association you may not get all of the details.
*information from MLS and includes only the following cities: Van Nuys, Encino, Sherman Oaks, Studio City, Woodland Hills & Tarzana
