The San Fernando Valley residential real estate market over the past couple months has shown a very stable condition. If we reference the charts, the active inventory level has been flat over the past few months. This is after a major inventory increase over the past year and a half. The quantity of sales have been flat since March. The prices have dipped fractionally over the past couple months.
Properly priced properties that show well, and don’t have negative attributes, can still receive multiple offers. Properties that are overpriced, or have a negative can sit on the market.
Interest rates have also been relatively flat over the past few months. A stabilizing job market will help smooth out the transition from the overheated “investor” driven market, to one where the domestic buyer has to be the primary consumer.
If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me.
Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth
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