Housing in SFV vs. SCV

I was recently comparing the pricing of single-family homes the San Fernando Valley and Santa Clarita Valley.

I plugged into The MLS a search for the past three months, single-family homes that range from 1400 sq.ft to 1600 sq.ft, with no home age limitation. I picked Sherman Oaks and Studio City as my target in The San Fernando Valley.

Here’s what I found:

Current Active Listings: 46
Pending Sales: 8
Cancelled Listings: 8
Expired Listings: 10
Solds: 28

The average active listing price is, $849,000. The average sold price is, $832,000.

For Santa Clarita, I selected Valencia as my point of interest using the same criteria as mention above.

Current Active Listings:37
Pending Sales: 4
Cancelled Listings: 7
Expired Listings: 5
Solds: 13
The average active listing is, $517,000. The average sold price is, $537,000.

What I find interesting that homes in Valencia are getting more than the asking price as compared to Studio City/Sherman Oaks. It is understandable that Studio City/Sherman Oaks housing costs more because these areas are in closer rage to major employment centers.

Hope you blog readers find this info interesting.