San Fernando Valley single family home sales for February came in at 480. As you can see from the above charts that is still a very weak number relative to previous years but better than the all time low the year before. Sales were down 7.34 percent from January and up 34.08 percent from the year before. The median price came in at $339,900 which was down 2.89 percent from the month before and down 35.26 percent from the year earlier period. This should be the weakest month of the year as far as sales but considering the deterioration of the economy that isn't a given. As seen in earlier posts the market is only this "good" due to distressed sales and if REO or short sale inventory should slow due to government intervention sales should slow right along with them.
Condo sales came in at 162, down 2.40 percent from the month before and up 48.62 percent from the year earlier period. Median price for condos came in at $210,000 which was up 10.52 percent from January and down 36.36 from February 2008.
I'll have more regarding back on market and pendings for the San Fernando Valley later this week.
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