According to the Southland Regional Association of Realtors, home prices in San Fernando Valley are on the rise. In May, the median cost reached $708,000—a 1.6 percent increase from the month prior.
In addition, the overall home prices seem to be reaching new heights as well around $887,500 for a single-family home. Showcasing an 8.6 percent increase from last year.
However, while price increases are perfect for San Fernando Valley residents looking to sell, homebuyers may not be as excited and will have to consider if the area is right for them.
But for prospective buyers who are nervous about the influx in home prices, there has also been in influx in homes on the market, providing many choices going forward in the home search.
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