The Los Angeles real estate market is actually comprised of many local real estate markets. For most home owners, buyers and sellers, tracking home values in their relevant neighborhoods is more valuable than looking at what’s happening in the entire area or state, though observing broader trends is important, too. With that in mind, we have been reporting monthly listings and sales in 12 select communities. For market updates on any other LA communities, email us.
Real Estate activity in much of the San Fernando Valley remained steady throughout the month of March. The market has continued to be fueled by the still low interest rates and the pandemic-inspired attraction of home ownership, which are motivating large numbers of buyers to buy single residences as well as condominiums, townhouses and manufactured homes.
Though the average sale price took a slight dip in many communities in March, the number of sales and active listings remained fairly consistent. April will most likely see a strong seller’s market with most areas still having only around 1 month of inventory available.