Your December 2019 Market Update

See the latest numbers and data for our San Fernando Valley real estate market.

Here is our real estate market update for December 2019. In the last sixty days or so in the San Fernando Valley, we have hit a record high median sales price of $755,000. That’s up 11% from a year ago. Since June, our inventory has continued to trend downward. We had a 1.7-month supply of homes on the market in October. 

Here we are in December, and it’s a great time to sell because there are still many buyers out there desiring the exceptionally low interest rates. Interest rates are hovering around 3.5% to 3.8%. This is certainly fueling the real estate market. Despite the inventory being low right now, around 1,100 in San Fernando Valley, there are a ton of buyers. In October we had 657 pending escrows, which is up 4% from October 2018. 

The real estate market is looking very strong heading into 2020. Many buyers are resistant to higher prices, but the motivated buyers are the ones who understand that the opportunity to buy is limited. So price, as always, is extremely critical.

“It’s a great time to sell because there are still many buyers out there desiring the exceptionally low interest rates.”

A reminder if you’re a home seller, check out our free home value report on our website. If you’re interested in purchasing a home, we have our free MLS search tool for properties all over Southern California, and you can find that on our website as well.

If you have any questions about the real estate market or real estate, in general give me a call or send me an email. I would love to help you!