SF Valley Market Update 05.31.2022

Dated: May 31 2022

Views: 12

KEVIN DAILY REALTOR
Click an Area Below for all Active Listings:

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San Fernando Valley Market Update: 

    Another week of huge growth in new listings. The market is adjusting to a healthier place where offers are more likely to get accepted and buyers do not have to do crazy things such as waive inspections. That being said, we are still very much in a sellers market and there is still opportunity to drive a bidding war and get top dollar. The way I explain the current market is that a home which would have received 30 offers just 6 months ago, will now get about 5-10 offers. It is imperative though that sellers put their best foot forward and price right. See my sheet below on how to guarantee a bidding war (in the seller resources section below). It pains me to see homes sit on the market because the photography was poor, they priced too high, and didn't invest in professional staging. If you are in this situation, there is a solution. Removing your home from the market for 31 days will reset the days on market clock and will show as a new listing when you return to market. During this time you can hire a new agent, have new photos taken, and price appropriately to drive competition. 

  • 5.37% Average Interest Rate on a 30-Year Fixed Rate Mortgage
  • 19 Average Days on Market
  • 135 Single Family Homes closed escrow last week in the Valley
  • 835 Active Listings as of today
  • 106% Final Sale Price as a % of List Price

Featured Listing: $6,695,000 16810 Bajio Rd Encino Ca. 91436

Home of the Week.jpg

My absolute favorite home in Encino is back on the market. I remember touring this home in 2020 and instantly fell in love. The photo to the left represents my favorite room in this home, and I am glad the new owners did not change the wall-paper. As you browse through the other photos you will find that the exterior brings up feeling of an English county manor and the interior feels very much modern but with the warmth you would find in an early 20th century built home. Imagine  your guests driving through the Porte-cochere into your private courtyard for a backyard summer gathering.

Please call me for a private tour!

Restaurant of the week: Casa De Papi (Canoga Park)

This is a great place to stop for a quick, inexpensive, tasty lunch. I have a good friend who loves this place so I end up visiting about twice per month. My buddy loves the empanadas, while I always stick with the tacos. They give you a little plate of chips with red sauce and cheese which is nice to snack on while you wait. The service is great, and although the place is not large I can generally find a table by time my food is ready. 

  

22330 Sherman Way, Canoga Park CA 91303

Restaurant of the week.jpg
Seller Resources:

Kevin Daily | Realtor

Equity Union Real Estate

16820 Ventura Blvd.

Encino, CA 91436

DRE#01815284

Cell: (818)388-3445

Email: kevin@kevindailyrealty.com

Visit my website
Blog author image

Kevin Daily

Kevin received his real estate license in 2007 and sold homes throughout the Inland Empire before heading to Los Angeles and making his mark on the luxury market in the San Fernando Valley. Working mo....

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