Here are my preliminary calculations for San Fernando Valley October 2008 sales and prices. For single family homes (SFH) I estimate sales will be around 720 and median price coming in around $405,000. Sales could be even higher, I lowered my sales estimate based on two factors, One - The changes in underwriting guidelines on Oct 1st means that more sales were weighted towards the beginning of the month and Two - I've been consistently overestimating sales. SFH sales look like they will be at or above the best level of the year. This would rank as the third weakest October on record for SFH sales. From a seasonality aspect 10 out of the last 24 September to October periods have shown an increase so that fact that sales will probably beat the previous month isn't a very big deal. For condos, I estimate sales will come in around 195 and median price will be around $240,500. The medians can shift a lot on low volume so I could easily see a median up in the $250,000+ range by the time the late reporters come in.