Valley Home Sales Record Peak for ‘80s
Home buying in the San Fernando Valley during 1987 hit the highest figure in the ‘80s, according to the San Fernando Valley Board of Realtors.
A total of 16,495 houses and condominiums were sold during 1987, making it the best year since 1979, when 19,964 were sold.
The combined average sale price of single-family houses and condos sold during 1987 increased 14% over 1986 to $187,270.
About 84.9% of 1986 sales in San Fernando Valley were single-family houses. That percentage, according to the board, fell to 80.9% last year as condos increased their market share because of a dwindling inventory of single-family houses.
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