Van Nuys Real Estate Market Update, Oct. 2013
*** Zip Codes: 91401, 91405, 91406, 91409, 91411
Located in the city of Los Angeles, the Van Nuys neighborhood sits in the San Fernando Valley.
Vun Nuys city was previously home to many celebrities in their childhoods including actress Marilyn Monroe, Natalie Wood, Paula Abdul, Bob Waterfield, Vint Cerf and many others. The neighborhood remains historic but has undergone many renovations while housing in the area is in the ranks of other real estate in Los Angeles County.
According to the MLS.com in Van Nuys city at this moment:
62 Active listings;
32 are looking for backup;
24 are on Hold;
50 are Pending.
Look at some numbers more closely( back 3 months):
As you can see, by October the median sales price went up to $422,750( for single family residences =$357,500 if West Van Nuys and $401,000 if it is located in East Van Nuys) . This means the increase of 40+% compared to the prior year! Sales prices have appreciated 20.8% over the last 5 years in Van Nuys. Average price per square foot for Van Nuys CA is $289, an increase of 30+% compared to the same period last year.
Median Sale price to Listing Price: Avg. 102.1%, meaning most properties are sold with multiple offers (see the chart below)very close to the asking price.
Comments(1)