Homeowners like the San Fernando Valley because of the reduced traffic, great shops, restaurants, entertainment, easier parking and particularly the attractive tree-lined street that are more affordable than the same home over the hill in Los Angeles.
Sherman Oaks starts at the base of the hills near the elbow of the 405 and 101 freeways. It is the most accessible Valley area to the Los Angeles westside, including Brentwood, Bel Air, Santa Monica, Beverly Hills, Culver City and more. The Getty Museum is easy to access from Sherman Oaks.
Remarkably, if you drive when traffic is light, the Sherman Oaks area of the Valley is also a short drive from Hollywood.
In fact from the Sherman Oaks area of the Valley you are only a few miles from any part Los Angeles. Laurel Canyon cuts right over the hill, or you can take an easy ride south on the 101 to Highland and cut down to Sunset, Hollywood or Santa Monica Boulevards from there. Don’t want to drive far to go out? The Valley is home to many highly rated restaurants.
So what does half a million dollars buy you in this part of Los Angeles County?
In the six months prior to this blog, only two homes sold in Sherman Oaks for under $500,000. One was a charming well-kept three bedroom, one bath 1930’s cottage but located right by the freeway. The other was a three bedroom one bath heavy fixer needing work inside and out. So, at $500,000 we are at the very bottom of the Sherman Oaks housing market.
In the same six months, 121 condos and townhouses with at least one bedroom sold in the city of Sherman Oaks.
Here is what sold:
Twelve 3 bedroom (2-3 baths) ranging from $313,000 to $495,000. Only one three bedroom sold for under $400,000.
Ninety 2 bedroom (1-3 baths) ranging from $259,000 to $500,000. The most common are two beds with two baths.
Seventeen 1 bedroom (1-2 baths) ranging from $259,000 to $392,000.
The prices vary by size, condition, location, age of building and stability of the HOA. Also, other amenities like a pool, laundry access, and parking can influence market price.
For more information on buying property in or near Sherman Oaks, call Joan Weisman, Broker (800) 928-5484 or email us.