Valley Home Sales Rise Year-Over-Year

San Fernando Valley home sales in November posted a 9 percent rise compared to the same month a year ago, the Southland Regional Association of Realtors reported Wednesday. A total of 458 homes changed owners during the month. Also, 161 condominiums closed escrow in November, an increase of 4.5 percent compared to November 2014. Both categories followed typical seasonal trends with month-to-month numbers declining 12.4 percent and 23 percent, respectively. The median home price during November came in at $535,000, down less than 1 percent from a year ago. The Valley home price peaked in July with a median of $600,000 and has drifted lower since then. “With sales slowing throughout much of California, higher local activity is a testament to the high demand for and desirability of San Fernando Valley housing,” Gaye Rainey, president of the association, said in a statement. In the Santa Clarita Valley, 154 single-family homes and 86 condominiums changed hands during the month. That represents a decrease of 22.2 percent for homes, but a 38.7 percent increase for condos. “It’s noteworthy that condo activity remained high, even as first-time and repeat buyers who are trading up or downsizing confront the reality of a very limited inventory of homes and condos listed for sale,” Bob Khalsa, president of the Santa Clarita Valley Division of the association, said in a statement. The median home price in Santa Clarita was $520,000, up 7.4 percent compared to a year ago and 4 percent higher than in October. For condos, the median price of $330,000 was 11.9 percent higher than 12 months ago and up 4.8 percent from October.