Understanding Van Nuys Real Estate Market Activity: October 2024
By Alberto Pacheco, Experience and Trust
(Home Smart Evergreen Realty)
In October 2024, Van Nuys experienced notable real estate activity demonstrating market dynamics. Here's an educational breakdown of the transactions:Market Overview: The median home price in Van Nuys reached $825,666, showing a 1% year-over-year increase. The average home value stands at $821,693, representing a 3.8% appreciation over the past year. Transaction Analysis: Entry-Level Purchase: Price: $660,000 Specifications: 4 bedrooms, 2 bathrooms, 1,166 sq ft Market Performance: Sold $10,000 above asking price Days on Market: 26 Average Transaction: Price: $899,000 Specifications: 4 bedrooms, 2 bathrooms, 2,615 sq ft Market Performance: Sold $55,000 above asking price Days on Market: 29 Premium Transaction: Price: $1,465,000 Specifications: 3 bedrooms, 1 bathroom, 1,481 sq ft Notable ...
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