Here are the preliminary sales and price estimates for the San Fernando Valley for February 2009. Single Family Home (SFH) sales are estimated to be 465 with the median price of approximately $350,000. Condo sales are estimated to be 145 with the median price of approximately $195,000. Sales are still very weak historically but off the all time low which was set in February 2008. I am seeing a surge in pending transactions which I attribute to both seasonality, as February is the seasonal low point, and people rushing to claim the tax credit. I think the tax credit rush is a temporary effect and sales will be muted by the deteriorating local economy as we move into mid-year.
1 comment:
As always, thanks for the data.
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