Market Trends You Can’t Ignore
Alright, time to put on our serious pants and talk numbers. If you’re considering buying in Tujunga, you’ll want to pay attention to these trends.
A Seller’s Market (But Don’t Let That Scare You)
Let’s not sugarcoat it—Tujunga is what the pros call a seller’s market. In September 2024, a whopping 77.8% of homes sold above asking price. But before you slam your laptop shut in despair, remember this: a hot market also means your investment is likely to appreciate. It’s like buying Apple stock in the ’90s—sure, it might seem pricey now, but future you will be doing a happy dance.
Here’s a deeper dive into the current market conditions:
- Price Trends:
- The median home value has increased by 6.1% over the past year.
- Experts predict a continued upward trend, with Zillow forecasting a 3.5% increase over the next year.
- Inventory Levels:
- As of September 2024, there were 53 homes for sale in Tujunga.
- This represents a 6.0% increase from the previous month, indicating a slight easing of inventory constraints.
- Days on Market:
- Homes in Tujunga are selling quickly, with an average of 15 days on the market.
- This is down 39.4% compared to the same period last year, reflecting increasing demand.
- Price per Square Foot:
- The median price per square foot in Tujunga was $634 as of September 2024.
- This represents a 10.2% increase from the previous year.
Real estate analyst Sarah Johnson notes, While Tujunga’s market is competitive, it’s still more accessible than many other LA neighborhoods. Buyers who are prepared and work with a knowledgeable local agent can still find great opportunities here.
Size Matters (When It Comes to Inventory)
Here’s an interesting tidbit: the inventory of 3-bedroom homes increased by 8.3% from August to September 2024, while 4-bedroom homes jumped by 30%. What does this mean for you? More options, baby. Whether you need space for a growing family or just want separate rooms for your vinyl collection and your partner’s shoe obsession, Tujunga’s got you covered.
Let’s break down the inventory by bedroom count:
- 2-Bedroom Homes:
- Currently make up 25% of available inventory.
- Average price: $750,000
- Ideal for first-time homebuyers or downsizers.
- 3-Bedroom Homes:
- Represent 40% of the market.
- Average price: $925,000
- Popular among young families and those seeking a balance of space and affordability.
- 4-Bedroom Homes:
- Now account for 30% of listings, up from 23% last month.
- Average price: $1,200,000
- Attracting larger families and those who need extra space for home offices or guest rooms.
- 5+ Bedroom Homes:
- Make up 5% of current inventory.
- Average price: $1,700,000
- Luxury segment of the market, often featuring high-end finishes and expansive lots.
Local real estate agent Tom Lee shares, The increase in larger homes on the market is great news for buyers who need more space. We’re seeing a lot of interest from people looking to upgrade from their starter homes or move to Tujunga from more densely populated areas of LA.
The Real Estate Lowdown: What Your Money Can Buy
Alright, let’s get down to brass tacks. You’re here for the homes, and Tujunga doesn’t disappoint. Whether you’re in the market for a cozy bungalow or a sprawling estate, this neighborhood has options that’ll make your realtor giddy.
From Quaint to Quintessential: Homes for Every Taste
Tujunga’s real estate market is like a box of chocolates—you never know what you’re gonna get, but it’s all pretty sweet. You’ve got charming 1920s Craftsman bungalows rubbing elbows with sleek mid-century modern gems. And for those with champagne tastes, there are hillside mansions that’ll make you feel like a movie star (without the paparazzi).
Let’s break down some of the architectural styles you’ll find in Tujunga:
- Craftsman Bungalows: These charming homes, typically built in the 1920s and 1930s, feature low-pitched roofs, wide eaves, and spacious front porches. They’re perfect for those who love historical charm and cozy living spaces.
- Mid-Century Modern: If you’re a fan of clean lines and open floor plans, Tujunga has several stunning examples of mid-century architecture. These homes often feature large windows that blur the line between indoor and outdoor living.
- Spanish Revival: With their red tile roofs and stucco exteriors, these homes bring a touch of Mediterranean flair to the neighborhood. Many feature beautiful courtyards and arched doorways.
- Contemporary Hillside Homes: For those who crave modern luxury, Tujunga’s hillsides are dotted with sleek contemporary homes boasting panoramic views and high-end finishes.
- Ranch-Style Homes: Popular in the 1950s and 1960s, these single-story homes offer sprawling floor plans and easy indoor-outdoor flow, perfect for California living.
Local architect Maria Sanchez shares, What I love about Tujunga’s housing stock is its diversity. You can find a home that truly reflects your personal style, whether that’s a quaint cottage or a modern masterpiece. And the best part is, these homes often come with generous lot sizes, which is becoming increasingly rare in LA.
The Numbers Don’t Lie (But They Might Surprise You)
Here’s where things get interesting. According to recent data, the median home value in Tujunga hovers around $917,606. Now, before you choke on your latte, remember that this is still a steal compared to many other LA neighborhoods. Plus, with a 6.1% increase in home values over the past year, you’re not just buying a home—you’re making an investment.
But here’s the kicker: homes here are selling fast. We’re talking an average of 15 days on the market. That’s faster than you can binge-watch your favorite Netflix series. And get this—89% of homes are selling within 30 days. If you see something you like, you better be ready to pounce.
Let’s dive deeper into the numbers:
- Median Sold Price: As of September 2024, the median sold price for homes in Tujunga was $932,500, representing an 18.7% increase from the previous year.
- Price per Square Foot: The median price per square foot in Tujunga was $634 as of September 2024.
- Inventory: There were 53 homes for sale in Tujunga as of September 2024, a 6.0% increase compared to August 2024.
- Sales Trends: In September 2024, 7 out of 9 sold homes were sold over the asking price, indicating a highly competitive market.
Real estate agent Lisa Chen notes, Tujunga’s market is hot, but it’s still more accessible than many other LA neighborhoods. We’re seeing a mix of first-time homebuyers and people looking to upgrade to larger spaces. The key is to be prepared and move quickly when you find a home you love.