Median Home Prices for SFV, SCV and AV:
Top O’the Month to you all and Happy St. Patty’s Day (March 17th). Now that the numbers are in for 2021, I’d like to share with you where the median home prices are in the San Fernando Valley (SFV), Santa Clarita Valley (SCV) and the Antelope Valley (AV). According to the Southland Regional Association of Realtors the average sold price of a home in SFV was $918,983.00, and in the SCV it was $785,000.00 and… according to the Greater Antelope Valley Association of Realtors (GAVAR)… in the AV it was $425,000.00 (year-end December 31st 2021). AND…. These numbers are going to go up in 2022!!!
Earlier this year, I thought the rise in interest rates would slow down the home price increase and predicted a 3-7% rise in home value. Now, I think the increase will be over 10% this year.
At some point, the monthly payments are going to be unaffordable for the masses. That’s why it’s important to keep track of the housing availability…. The number of homes FOR SALE at any one period. In the middle of January, there were 543 homes for sale in the AV. At the time of this writing (2-24-22) there are 463 homes for sale… according to GAVAR. There are homes going for sale (new listings), but the number of new listing’s verses new pending (homes going under contract) is not enough to grow the inventory. There are a LOT of BUYERS out there still looking for a home. For instance, we just got an acceptable offer on a home, and we had over 30 showings.
Interesting note from The Old Farmer’s Almanac 2022: March is named for the Roman God of War, MARS. This was the time of year to resume military campaigns that had been interrupted by winter.
Also, if you are thinking about getting into real estate or know of someone that is, we have our very own pre-licensing real estate school that prepares you to pass the California state exam. Check out avreschool.com or call (661) 400‑0705.
If you have any questions regarding this or any other real estate matter, feel free to call, text or email… (661) 406‑562, (661) 400‑0705 or [email protected] We truly appreciate your referrals!!!
