The San Fernando Valley submarket entered its seasonal slowdown in a much better position than a year ago. According to the Southland Regional Association of Realtors, during October the median price of a single-family home was $562,000 – up 7.9 percent year-over-year.
- Affordability issues and slowing sales activity are likely to negatively impact home prices moving forward.
- Multiple buyers are no longer competing for quality properties.
- Single-family homes account for roughly 70 percent of all listings in the submarket.