Single-family homes in the San Fernando Valley sold in August for their highest monthly prices since 2007, according to the Southland Regional Association of Realtors Inc.
The median home price was $625,000, a 7.8 percent jump from the same month last year, and the highest median price in any month for nine years.
Condominiums saw their median price rise 4.1 percent to $385,000, the association said.
Sales volumes for single-family homes shrank in August to 545 transactions, off 5.5 percent from a year ago, while condominium sales picked up 6.9 percent to 201.