This November, twenty-four houses (not including condos) closed escrow in Chatsworth. That is up 30% from November 2008's eighteen closed sales.
Here is the comparison of November 2009 to November 2009:
Nov 2009 1901 sq ft avg $465,250 avg sales price $253 avg price per sq ft 51 days on market
Nov 2008 2133 sq ft avg $549,841 avg sales price $275 avg price per sq ft 57 days on market
So, you can see that while the average price fell significantly, smaller homes were selling and the price per square foot fell less than 10%. The days for a house to be on the market decreased. Take it from someone in the trenches with San Fernando Valley real estate--homes priced under $500,000 are selling quickly and often with multiple offers. Averages can only tell you so much, though: for more detailed information on the Chatsworth real estate market send me an email or give me a call and I will be glad to share.
And last but not least, Congratulations to all those buyers who now have a new home for the holidays. What a wonderful way to ring in the New Year!