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:
“There is no such thing as “the Queen’s English.” The property has gone into the hands of a joint stock company and we own the bulk of the shares!”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“Normality highly values its normal man. It educates children to lose themselves and to become absurd, and thus to be normal. Normal men have killed perhaps 100,000,000 of their fellow normal men in the last fifty years.”
—R.D. (Ronald David)