APRIL Bell Canyon Real Estate Update
Inventory Level Today:
7 Active Listings
2 Listings in Escrow
April New Listings
6 New Listings
April Listings Put in Escrow
1 Pending
April Closed Sales
0 Sales
Here’s a link to the current inventory:
BELL CANYON QUARTERLY SALES ACTIVITY
2022 TOTALS
| 1st Quarter (QTD) | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| # of Sales | 10 | 0 | ||
| Highest Sale Price | $4,200,000 | 0 | ||
| Lowest Sale Price | $1,200,000 | 0 |
2021 TOTALS
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| # of Sales | 14 | 21 | 13 | 18 |
| Highest Sale Price | $3,450,000 | $4,900,000 | $2,880,000 | $3,650,000 |
| Lowest Sale Price | $1,140,000 | $1,465,000 | $1,189,000 | $1,200,000 |
2020 TOTALS
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| # of Sales | 6 | 5 | 13 | 18 |
| Highest Sale Price | $3,850,000 | $2,250,000 | $2,525,000 | $2,875,000 |
| Lowest Sale Price | $930,000 | $1,120,000 | $1,100,000 | $990,000 |
2019 TOTALS
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| # of Sales | 5 | 5 | 5 | 7 |
| Highest Sale Price | $2,300,000 | $2,350,000 | $2,255,000 | $4,150,000 |
| Lowest Sale Price | $860,000 | $950,000 | $950,000 | $1,000,000 |
Southland Association of Realtors March 2022
SFV Real Estate Highlights
Home Median Price Tops $1 Million; March Sales Up 51%
Though still below year ago levels, sales of existing single -family homes in the San Fernando Valley during March improved by 51 percent from the February tally even as the median price topped $1 million for the first time, the Southland Regional Association of Realtors reported on Thursday, March 21.
Local Realtors assisted the close of escrow of 415 single -family homes and 162 condominiums last month. Those totals were down 15.7 percent and 28.6 percent respectively from March 2021, yet both were dramatic increases from this February with home sales 50.9 percent higher and condos up 22.7 percent. “The strong month -to -month increase in sales illustrates the tenacity and ongoing resilience of buyers and the underlying demand for homeownership,” said Jeff Phillips, president of the 11,000 – member Southland Regional Association of Realtors.
“While inventory is exceeding tight,” he said, “there are still opportunities to own a home in all price ranges.” There were 489 homes and condominiums listed for sale throughout the San Fernando Valley at the end of March. That was down 23.2 percent from a year ago and represented a mere 0.8 -month supply at the current pace of sales.
With the exception of only two months, the inventory has been below 1,000 listings per month since November 2019, a slide highlighted by the record low tally of 381 active listings in December. “It may seem counter intuitive, but recent increases in mortgage rates may yield opportunities for prospective buyers,” said Tim Johnson, the Association’ s chief executive officer. “It may seem counter intuitive, but higher rates combined with rising prices will further reduce the pool of prospective buyers, which could yield less competition for available inventory,” he said.
Resale prices of homes and condominiums have been rising non -stop since the Great Recession with the March median home price a record $1,075,000, up 19.3 percent over a year ago. It also was up a whopping 217.1 percent from the $339,000 median price set in December 2011, which was the low point of the Recession for the local home median price. Median price means half the homes sold last month went for less and half sold at a higher price. The 162 condominiums that closed escrow during March had a median price of $615,000, up 19.4 percent from a year ago, yet 0.2 percent below the record high median price of $616,500 posted in February. Pending escrows were down 13.2 percent.
The Southland Regional Association of REALTORS® is a local trade association with 11,000 members serving the San Fernando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation.
If you are a homeowner looking to sell and purchase, sellers are now more willing to take contracts from buyers contingent on selling. If you are considering selling at this time, We would highly recommend sitting down with your realtor (hopefully us) and discussing your specific unit and how it compares to the current inventory. We’d love to interview with you if you do not currently have a realtor.
Values are still at or near peak values, but the sales climate is changing.
We’d recommend anyone who has their property as a rental contact me to discuss the market conditions before you decide to rent the property out for another year or sell.
I’d love to help you make an informed decision with no pressure or obligation. This is why it is important to consult with someone who is an expert in the complex so you don’t waste time on the market at a price that the market will not respond to. We can also advise on what improvements can net you the best ROI when it comes time to sell.
It may be a good time to consider selling for anyone thinking about taking their equity and purchasing a new home. There are still many opportunities out there for anyone looking to move up to a bigger home or move closer to shorten your commute.
See what people are saying about Kevin!
The dictionary does not have enough words to describe the extraordinary service, attention and knowledge of my Agent, Kevin Godley and his great team, Team Godley. Professionalism is Kevin Godley personified. I can only say that is you are planning to buy or sell, especially in Bell Canyon, you need to contact Kevin Godley. Thank you Kevin. I am forever grateful to you.
-Maureen S. Sold Hackamore Lane Bell Canyon Home with Kevin
Kevin Godley
Realtor
Pinnacle Estate Properties
818-402-9763
kevin.godley@gmail.com
Lic#01216088
If your property is currently listed with another Broker, this is not intended as a solicitation of that listing. This information is based on all homes closed in Bell Canyon as reported through the Southland Regional Association of Realtors multiple listing service.