Home Sales Rebound in November, but Prices Fall : Property: A total of 944 houses and condos changed hands, up 22% from last year. The average price of a single-family home fell 12% to $240,400.

Housing sales in the San Fernando Valley rebounded in November on the strength of single-family home sales, but prices continued to plunge.

Overall sales of previously owned houses and condominiums jumped 22% last month, to 944 from 772 units sold in November, 1992, the San Fernando Valley Assn. of Realtors reported.

However, last month’s total fell 1% short of October, when 954 houses and condominiums changed hands.

Single-family house sales led the year-to-year increase. In November, 808 houses were sold, up 27% from 637 a year ago. It was the eighth consecutive monthly increase over a year earlier, although the November total was off slightly from the 822 single-family units sold in October.

Prices continued their steep slide last month. The average price of a single-family house sold in November was $240,400, down 12% from $273,800 a year earlier and 4% below the $249,700 average in October.

The median price of single-family homes also fell from a year before, to $191,500 from $215,000, an 11% decline. The November median price was up 2% from October’s $187,000 median. The median price is the point at which half the houses sold for more and half sold for less than that amount.

Condominium sales, which have been particularly hard hit as buyers have opted for low-priced single-family houses, held steady in November. A total of 136 condominiums changed hands, up from 135 a year earlier and 132 in October.

Last month marked the first time in more than a year that the number of condominiums sold was higher than the comparable period a year before.

But condominium prices continued to plummet, with the average price falling 15% from November, 1992, to $131,200 from $153,400. The median price of condominiums also fell 15% from a year before, to $123,600 from $146,000. The November median price was down 3% from October’s $127,000.

Alice McCain, president of the realtors association, interpreted the November results as new evidence that the local housing market is “rebounding off the bottom.”

“While we never had a boom month this year,” McCain said, “the fact the market is so consistent is an excellent sign.”

The number of houses and condominiums for sale also remained high in November, although the inventory is diminishing. A total of 10,774 housing units were listed for sale last month, down 15% from 12,674 a year earlier and 6% below October’s 11,382.

McCain said the high inventory of homes for sale would continue to exert downward pressure on prices, but she expects that may ease and level off in the spring if sales remain at current levels.

The Valley realty association, the largest in California, reports housing sales by its 7,800 members in the area from North Hollywood to Calabasas. Its figures do not include sales of most new residences.

November Valley House Sales

Northwest Average price: $251,000 Sales: 44

North Central Average price: $255,500 Sales: 123

Northeast Average price: $148,100 Sales: 122

Southwest Average price: $267,200 Sales: 252

South Central Average price: $274,300 Sales: 97

Southeast Average price: $233,900 Sales: 170