Home sales in the San Fernando Valley soared an unprecedented 82 percent in September, while prices continued to fall at a record pace, a trade association said Thursday.
The Van Nuys-based Southland Regional Association of Realtors reported that 658 previously owned homes sold from Toluca Lake to Calabasas, up 296 from a year earlier. That’s the biggest percentage gain since June 1986, when sales jumped 52 percent.
But the median price has plunged 37 percent over the past year, dropping from $392,500 to $231,200, the association said. That’s the biggest percentage drop since a 35 percent decline in June and the lowest median price in five years.
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