Buying A Home In San Fernando? How Much Does It Cost?
One of the greatest parts of buying in the San Fernando Valley is that you can get more land for your buck. According to the Southland Regional Association of Realtors, the median price for a home in the San Fernando Valley in 2017 is $640,000. Those are pretty high numbers for Los Angeles County since the median home price in June of 2017 was $569,000 according to CoreLogic.
There are not so many people that are willing to put their house on the market right now, and lots of people want to buy. This explains why the housing prices in the San Fernando Valley are skyrocketing this year. Just last year it was $599,733. This year is around $630,400. We can honestly that the San Fernando Valley has high prices due to the tight inventory that can lead to concentrated competition. Buyers that have money in the San Fernando Valley are extremely motivated. Buyers in the San Fernando Valley are writing dear seller letters, offering above asking prices, and at times being sellers timelines.
To see how two dozen San Fernando Valley neighborhoods, we used the help of Constantine Valhouli, who founded data analyst company NeighborhoodX. The chart below demonstrates the homes on the market at the beginning of August 2017.
According to Valhouli, the average asking price countywide right now is $417 per square foot, while the average price in the San Fernando Valley is $384 per square foot. The average for the city of Los Angeles is $695 per square foot. In order to get a full picture of the neighborhood, we would need to look at both the average asking price and the price range. The average price range is a great way to start, but the price range can offer more understanding.
The price range in the chart below represents the lowest- and highest-priced properties in the neighborhood. This is why it is important to choose the right buyers to help choose the right financial plan for you. For more information on buying or selling a home in the greater area of San Fernando Valley and Los Angeles please click here.