Mary Funk, President of the Southland Regional Association Of Realtors says that "...we may have passed the bottom of this cycle and the worst is behind us." Bless her heart, don't we all hope she is right....And she may well be if the trend keeps going as it has been.
416 single-family homes closed escrow during March, an increase of 16.2% from February. Though sales were down 46% from a year ago, activity has been up since October, March being the 3rd consecutive month with an increase in resale activity.
7,193 properties were listed in the San Fernando Valley at the end of March, up 26.6% from a year ago and up 1.5% from February.
The inventory represents over a twelve -month supply – so buyers it is still your market you should be gettin' while the gettins' good as my Grandfather use to say.
For more information on buying a home in Studio City, Sherman Oaks and the San Fernando Valley visit my Studio City, Sherman Oaks Real Estate web site.