Enjoy a complimentary Sunland-Tujunga Real Estate Market Update for February 2018
This Month in Real Estate:
February saw a slight increase in inventory of homes while home’s sale price in the Sunland-Tujunga real estate market stayed the same. The market had a total of 32 units sold at a median price of $583,000. That compared to the sales price one year ago showed an increase of 8% in price. Prices stayed the same in median price from the previous month. The average sale price landed at 101% of list price suggesting homes are selling quite a bit above asking price. Compared to last month, this shows that home values saw an overall increase.
The average days to sell time on the market increased to an average of 47 days. The most important indicator for determining which type of market we are in currently is the average time it takes for the entire inventory supply of homes to sell. Anything below 4 months indicates a seller’s market, between 4-6 months is a balanced market, and over 6 months is a buyer’s market. Currently, we are still in a strong seller’s market. However, with rates going up we may see a shift to a more stable and balanced real estate market in the coming months.
Other City’s Average Median Home Values:
- In Los Angeles: $735,000
- In Mount Washington: $841,000
- In Eagle Rock: $1,058,000
- In Glendale: $775,000
- In Burbank: $761,000
- In Pasadena: $760,000
- In Studio City: $1,160,000
We hope you found this real estate market update for February 2018 helpful. Each month you will be provided with monthly real estate updates on the market. If you would like a more comprehensive free no obligation market evaluation text or call me at (818) 389-4465 today.