DECEMBER WOODLAND HILLS CONDO/TOWNHOUSE REAL ESTATE UPDATE
Hello Fellow Friends and Neighbors,
The market activity in the month of December was very similar to November and was on a lower level as we are in the heart of the holiday season. The activity for the higher priced units (over $800k) has dropped off with none of these units selling in December. It seems like that the market may pick up after the new year after the new administration comes in.
The mortgage rates have stayed pretty flat and are sitting around 7% still. 3 bedroom units in upgraded condition in desirable locations are the hottest part of the townhouse market, but inventory is still low which makes anything that is priced right a hot commodity.
If you find yourself in the position where you are not sure if you should sell, rent or keep your home/investment property, please call me for a free, no obligation strategy session. There are upcoming changes coming into effect this year that may affect some CA landlords.
Year over Year Woodland Hills Condo/Townhouse Sales Comparison
2024 YTD Sales Totals vs 2023 (As of 12/31/24)
2024 YTD WHLL Condo/Townhouse Sales:
150
2023 WHLL Condo/Townhouse Sales (1/1/23-12/31/23):
117
2022 WHLL Condo/Townhouse Sales (1/1/22-12/31/22):
177
I’m still seeing the majority of landlord owners I speak to are still opting to sell instead of re-rent out their units as many feel that taking their equity into another investment makes more sense than the risks and work of being a landlord in today’s climate. Please feel free to reach out if you are interested in getting an idea of what your property could potentially be worth and see if exploring a sale is in your best interest.
Thinking About Buying?
The environment for buyers looks to have improved a little bit as we were able to get multiple buyers in escrow that needed to sell their units first which was something that was much more difficult to do in prior months without really overbidding on a property. Feel free to reach out if you have any questions about current buying conditions.
I’d recommend anyone who has their unit as a rental property 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. I can also advise on what improvements can net you the best ROI when it comes time to sell.
Woodland Hills Condo/Townhouse Inventory Level Today:
37 Active Listings
11 Listings in Escrow
Link to Current Inventory:
Current Woodland Hills Condo/Townhouse Inventory
2024 TOTALS
| MONTH | # OF NEW LISTINGS | # OF LISTINGS IN ESCROW | # OF CLOSED ESCROWS |
|---|---|---|---|
| DECEMBER | 12 | 10 | 12 |
| NOVEMBER | 15 | 10 | 8 |
| OCTOBER | 20 | 13 | 8 |
| SEPTEMBER | 14 | 9 | 14 |
| AUGUST | 21 | 19 | 14 |
| JULY | 16 | 10 | 13 |
| JUNE | 17 | 17 | 11 |
| MAY | 28 | 18 | 14 |
| APRIL | 17 | 17 | 21 |
| MARCH | 22 | 21 | 16 |
| FEBRUARY | 15 | 12 | 8 |
| JANUARY | 16 | 14 | 9 |
DECEMBER Woodland Hills Condos/Townhouses Sold:
| 6145 | SHOUP AVE #44 | $630,000 | 3/3 | 1764 | 95 | 12/27/24 |
| 23007 | Del Valle St | $625,300 | 3/3 | 1320 | 22 | 12/17/24 |
| 5540 | Owensmouth AVE #105 | $400,000 | 2/2 | 920 | 0 | 12/18/24 |
| 5500 | Owensmouth AVE #125 | $479,000 | 2/2, | 920 | 18 | 12/18/24 |
| 23007 | Del Valle ST | $625,300 | 3/3 | 1320 | 22 | 12/17/24 |
| 22330 | Victory BLVD #701 | $572,000 | 2/2 | 949 | 28 | 12/16/24 |
| 21930 | Marylee ST #62 | $720,000 | 2/3 | 1338 | 50 | 12/13/24 |
| 6121 | Shoup AVE #33 | $600,000 | 3/3 | 1764 | 41 | 12/10/24 |
| 5550 | Owensmouth AVE #205 | $515,000 | 2/2 | 920 | 39 | 12/6/24 |
| 22307 | Erwin ST | $550,000 | 2/2 | 1416 | 0 | 12/4/24 |
| 5800 | Owensmouth AVE #61 | $575,000 | 3/2 | 1190 | 43 | 12/4/24 |
San Fernando Valley Condo Market Statistics Comparison
DECEMBER 2024
# of Active Listings
411 (Down ~13.9% from November)
# of Properties Going Under Contract
83 (Up ~2.4% from November)
# of Escrows Closed
133 (Equal to November)
Median List Price
$599,900 (Down ~1.7% from November)
Median Sale Price
$585,000 (Up ~2.6% from November)
Latest Customer Testimonial:
“Both Kevin’s did an incredible job helping us sell our property. They kept us updated on any activity with potential buyers, always told us about other activity in the area, and helped price the house fairly so it would sell. I would highly recommend them both. “
Lynne., Helped Her Mother Seller Her Long Time Home on 5711 Owensmouth #112
At Your Service,
Kevin McDonald & Kevin Godley
The 818 Life
Realtor
Pinnacle Estate Properties
818-256-7514
Lic# 01810388/01216088
Want to View Some Homes on the Market?? Want to View a Different Area? Contact me at 818-256-7514.
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 “Woodland Hills” as of 12/31/2024 reported through the Southland Regional Association of Realtors multiple listing service. Not all listed homes are represented by Kevin Mcdonald, Kevin Godley and Pinnacle Estate Properties.