Property Values
In August 2005, the median price of an average one family home in the San Fernando Valley reached $600,000. In 1997, it was only $155,000. In the summer of 2003, it reached $400,000 and by July 2005, it reached $578,500. From July to August (one month) 2005, it rose by $100,000. A cooling off was noted in 2006, when between November 2005 and November 2006, median prices rose by the smallest amount of any 12 month period since mid-1997. Indeed, November prices were lower than October prices, and sales for November had fallen 19.1% compared to a year earlier. The United States housing market correction affected the San Fernando Valley in 2007–2009 making housing significantly more affordable in the area, the median sales price fell from $660,000 at the peak in May 2007, to $500,000 by March 2008, stabilizing in 2009 at around $330,000 – $340,000.
Read more about this topic: San Fernando Valley
Famous quotes containing the words property and/or values:
“Oh, had I received the education I desired, had I been bred to the profession of the law, I might have been a useful member of society, and instead of myself and my property being taken care of, I might have been a protector of the helpless, a pleader for the poor and unfortunate.”
—Sarah M. Grimke (1792–1873)
“Our children need to be able to see us take a stand for a value and against injustices, be those values and injustices in the family room, the boardroom, the classroom, or on the city streets.”
—Barbara Coloroso (20th century)