The San Fernando Valley official home sales numbers are out. Single Family Home sales came in at 518, down 25.0% from December and up 60.4% from January 2008 which was near the all time low for sales. Median price came in at $350,000 down 0.9% from December and down 30.0% from the year before. As you can tell from the second chart above this is still very low sales for any January.
Condo sales came in at 166, down 28.1% MoM and up 58.1% YoY. Median price came in at $190,000 which was down 15.6% MoM and 48.4% YoY.
The above chart is just the absolute totals for pending sales, sales and properties that have come back on market (BOM). As you can see from the above graph the absolute number of BOM has stayed steady while sales have fallen as they seasonally do in January. This leads to the following chart:
This is the back on market percentages. Compared to current sales (How the SRAR likes to look at it), current month pendings and previous month pendings.
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