Real Estate Industry San Fernando Valley

For the first time since 1992, San Fernando Valley home values this year have been above $200,000 for six consecutive months, indicating continued strength in the local housing market. The median sales price for a single-family home in the Valley was $218,000 in July, according to figures released Monday by the Southland Regional Assn. of Realtors. That was the highest July figure since 1991, the group reported.

Editor's note: The following home sales were filed with the Los Angeles County Recorder's Office March 21-27. The information was provided to The Times by First American Real Estate Solutions. ACTON Houses 2405 Bent Spur Dr., 4 BR, 3 BA, $335,000 3727 Smith Ave., 3 BR, 2 BA, $176,000 AGOURA HILLS Houses 30800 Agoura Rd., $445,000 5890 Carell Ave., 4 BR, 2 BA, $369,000 6341 Fenworth Ct., 4 BR, 3 BA, $579,000 6089 Lake Lindero Dr., 3 BR, 4 BA, $692,000 5616 Laurel Bluff Pl.

Editor's note: The following home sales were filed with the Los Angeles County Recorder's Office between Jan. 17 to 23. The information was provided to The Times by First American Real Estate Solutions. ACTON Houses 34651 Ellenan Ave., 2 BR, 2 BA, $195,000 AGOURA HILLS Houses 6324 Aquarius Ave., 4 BR, 3 BA, $402,000 5428 Lake Crest Dr., 3 BR, 2 BA, $395,000 5724 Willowtree Dr., 4 BR, 5 BA, $667,500 ARLETA Houses 9933 Bartee Ave., 1 BR, 1 BA, $151,500 13534 Debell St.

San Fernando Valley home prices jumped 5.6% in February as tight inventories helped reverse a general decline in prices since last August. The median cost of a single-family resale home (the price at which half of the homes sold for more and half for less) was $247,000 in February, up $13,000 over the previous month, according to the Southland Regional Assn. of Realtors. The median price hit a record $255,000 last August before sinking to $234,000 in January.

It's a four-bedroom home, south of Ventura Boulevard in Woodland Hills. In the late '80s it sold for $399,000. Then it lapsed into foreclosure, a common event in the '90s as aerospace jobs vanished and the San Fernando Valley's housing market nose-dived. Recently, Liz Grant saw the home, liked it instantly, and found herself in a bidding war to buy it. The bank finally accepted her $275,000 offer, which was the full asking price.

More sales. Higher prices. That about sums up the real estate action in the San Fernando and Santa Clarita valleys for the third quarter, which outperformed third-quarter activity last year by most measures. A total of 3,725 single-family homes sold in the San Fernando Valley during the quarter ended Sept. 30, compared with 3,619 for the third quarter of 1998, according to statistics from the Southland Regional Assn. of Realtors.

Pushed by the strong economy and high demand, prices for single-family homes in the San Fernando Valley hit a six-year high last month, shooting up 14.1% over year-ago figures. The median resale price for a single-family home rose to $211,000 in April, the highest level since January 1993, when the median price was $213,000. Condominium prices increased even more, by 18.6% over April 1998, as rising housing costs pushed many buyers into the condo market. "We see prices going up.

San Fernando Valley home prices jumped 5.6% in February as tight inventories helped reverse a general decline in prices since last August. The median cost of a single-family resale home (the price at which half of the homes sold for more and half for less) was $247,000 in February, up $13,000 over the previous month, according to the Southland Regional Assn. of Realtors. The median price hit a record $255,000 last August before sinking to $234,000 in January.

The San Fernando Valley's strong buyer's market appears to be in transition, with sellers better able to negotiate prices, according to figures released Monday by a local realty association. More single-family homes were sold in the Valley last month than in any January since 1989, according to the report, in another sign of an improving real estate market. Prices also rose last month, with the average price tag up 3.8% over a year ago to $237,000. The median sale price also increased by 9.

If there were an Oscar category for real estate, the 1998 San Fernando Valley market would be a shoo-in for "best performance in a decade wracked by recession and terrifying natural disasters." Think of the flick as "Try Hard 2: Another Comeback for the Comeback Kid." As expected, the 1998 real estate market in the Valley posted the best showing of the '90s.

Propelled by a huge leap in August, single-family home prices in the San Fernando Valley hit a record annual median of $237,792 in 2000, marking three straight years that prices have risen by 10% or more, a real estate trade group reported Monday.