Valley Board Lists Healthy Spring Sale

The traditional spring home buying season hit full stride during May, with 1,822 single-family home and condominium sales reported by the San Fernando Valley Board of Realtors.

Tom Carnahan, board president, said it was the highest monthly total since 1979. Sales, although 23.6% higher than a year ago and up 20.3% over April, were still well off the record of 2,559 sales in a single month set in April, 1979.

Single-family homes accounted for 77.8% of total resale activity, the San Fernando Valley board reported. Condominium listings grew tighter, dropping 2.9% from 12 months ago.

The single-family home average resale price of $234,000 was 16.2% higher than in May of 1987, but it fell slightly from the record high of $234,000 set in April of this year.