Tuesday, June 23, 2009

San Fernando Valley May 2009 sales report

San Fernando Valley Single Family Home sales came in at 708 which is up 2.46% MoM and 5.83% YoY. Median prices came in at $350,000 which is down 1.41% MoM and down 22.22 YoY. This was the fourth worst May on record just barely beating out May 1992 for SFH sales. Sales are not "brisk", sales are very low, Inventory of the price ranges that are selling (Low end REOs) are low as well. The current market is having a supply issue in the affordable ranges. Sales will continue to be low as long as this is the case.

Condo sales came in at 226 which is up 7.62% MoM and up 34.52% YoY. Median price came in at $185,000 which is down 16.97% MoM and down 38.13% YoY. Condo sales are still historically weak.

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