Market Conditions in 91406>Question Details

Ehw, Other/Just Looking in

how are market conditions in van nuys east/west in the last 2 months? are prices going down or are they flat?

Asked by Ehw, Wed May 30, 2007

interested in van nuys east and west of the 405 freeway.

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Irina Netchaev’s answer
Hi Ehw, I did a little more research and pulled up data from May of 2006 that DQ News pulls together for LA Times.

In Van Nuys,(91406) as of May 2006, SFRs: there were 30 sales and a drop of 8.8% from May of last year. The Average price per Sq. Ft. is $515

Last year, in your zip code, based on the same data, 474 homes sold. That means that on average 39.5 homes sell in your zip code per month.

I haven't pulled up the number of homes that are currently on the market in your zip, but your Realtor can pull that information for you. Take that number and divide it by 39.5 and that will tell you the number of months of inventory in your market.

You really need to track these stats very, very carefully to come up with the approriate pricing strategy.

Also, has your home been staged? How does it show?

I'm including the link to DQ News so that you can do some of your own investigations.

Web Reference:
1 vote Thank Flag Link Fri Jun 15, 2007
so, now it is 2012 and all is changed: inventory is low, prices up a little bit, houses/condos are sold fast(huge number of short sales are sitting there as "Active'' or ''Backup'' for months, but they have many offers withing a very first week, they wait for a bank approval to change status to Pending).

Right now, at this moment( condos and houses in E/W Van Nuys):
# of Active Listings = 58
Average DOM = 59
Low Price $= 140,000
Median Price $= 349,950
High Price $ = 3,100,000
Average Price Total $ = 503,258
*Avg. Price w/ Sq.Ft. $= 211.65

But if you are curious about Sold houses(sfr) statistics:
Median Sales Price West/East Vun Nuys:
Sept/2011: 421k/280k
* while
Sept/2012: 301k/310k
0 votes Thank Flag Link Sat Oct 20, 2012
There is not a lot of activity happening right now that I can see. Price have been dropping but gradually. I have been talking to agents all around the valley and they are seeing a general "wait and see attitude". However, things are still selling. I think sales activity will pick up after the holidays. There are some great pockets in East Van Nuys as well as west of the 405. Please let me know if you need assistance in your search for the perfect home. I would be happy to assist you (818)422-1702
0 votes Thank Flag Link Tue Dec 4, 2007
West of the 405 is a little more desirable. East, things are slow, less is selling so less are buying. Prices are down from last year. However rental prices are up.
0 votes Thank Flag Link Tue Jul 31, 2007
Hi Ehw,

I have been seeing quite a few homes come up on the market in the Valley, Van Nuys in not an acception. The last couple of months, the prices have been stagnant. The summer season is the busiest in the real estate market and is keeping the prices flat.
0 votes Thank Flag Link Mon Jun 4, 2007
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