Valley Home Prices On the Rise
Posted by admin at June 25th, 2014
A report filed by the Southland Regional Association of Realtors noted that an increase in inventory has resulted in home price escalations in the San Fernando Valley. Inventory rose to 1,260 homes – a 47 percent increase over last month. The new median home price for Valley properties is $520,000 for May– a one percent increase from April.
However, Santa Clarita Valley is experiencing gains over last year. This year’s median home price for May reached $485,000 – a 15 percent increase over the same month last year. Local realtors reported that property inventory rose to 663 properties – a 74 percent increase over the same month last year creating a new two month supply. This increase has local realtors optimistic for the summer buying season.