Home Sales Increase in San Fernando Valley

Sales of single-family homes in the San Fernando Valley for the first five months of the year were up nearly 12% over the same period in 1995, reports the San Fernando Valley Assn. of Realtors.

The 995 closed escrows reported in May marked the fifth consecutive monthly increase in single-family sales activity and a 4.4% improvement over a year ago. Condominium closed escrows reflected an identical five-month pattern, with the 284 condo sales reported this May up 83.2% over a year ago, association statistics indicate. The condo total for the first five months was nearly 70% ahead of 1995.

The median price of the homes that closed escrow in May was $145,000, down 15.7% from a year ago. The condo median price of $80,000 was off 16.7% from last year.