Everything you need to know before embarking on a house hunt in Northridge, CA
Purchasing a home can be as exciting as it is stressful. In the San Fernando Valley, which is located in Los Angeles County, many prospective buyers have to commit to one colossal purchase as the prices are high and still rising according to 2022 real estate predictions.
For most buyers, especially those who have never purchased property before, pricing isn’t the only hurdle standing in the way of a purchase. They also wonder where to start looking, what price range to consider, and what types of homes they can find in the Northridge real estate market. Buying a home in Northridge is not easy as homes cost a lot, and finding the right neighborhood can be a challenge.
Ready to unlock the best-kept secrets about the Northridge housing market? Keep reading our home buying guide for Northridge, CA.
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About Northridge, CA
Northridge is a neighborhood perched at the top of the desirable San Fernando Valley region of Los Angeles County.
With slightly over 72,000 people, the community is among the least densely populated areas in Los Angeles. The San Fernando Valley gem, Northridge, is home to the well-known California State University Northridge, historic old manors, and upscale fashion stores. This haven away from the city has a family-friendly suburban charm with quiet tree-lined streets, plenty of attractions and amenities, and some of the best public and private schools in Southern California.
» Available Northridge Real Estate Listings
Why Buy a House in Northridge, CA?
So, why should you move to Northridge, CA?
Did you know that Northridge is among the best neighborhoods in Los Angeles County? Boasting an A or A+ grade in housing, weather, and amenities, Northridge has a total livability score of 80, 8% above the national average.
Besides the highly-rated public and private schools, Northridge is also home to the largest shopping mall in the area, the Northridge Fashion Center, and one of only two hospitals in the San Fernando Valley region certified for treating life-threatening injuries.
» Northridge Demographics
How Much Do Homes in Northridge, CA Cost?
Northridge’s home prices are incredibly high, even for LA. They go 157% higher than the national average.
In October 2021, the median list price per square foot for homes in Northridge was $454. Northridge, CA’s median listing home price in the same month was $920K, a 21.1% increase year-over-year.
The total active number of homes in the Northridge housing market was 27 in November 2021, a decrease from 31 in August 2021.
What You Can Rent in Northridge
While home prices are relatively high in Northridge, rental prices for real estate in Northridge are affordable for Los Angeles County. The average rent in Northridge is $2,235. The rent can be as low as $1,827 or as much as $2,973 when renting an apartment in Northridge, CA.
» Northridge Rental Market
- Median Home Value$760K
- Median List Price /Sq.Ft.$375
- Median Sale Price$775K
- Median Rent per Month$1,900
What Kinds of Homes Can I Buy in Northridge, CA?
Northridge homes range from quaint and cozy university accommodation to opulent Victorian mansions, offering everyone something along its wide, tree-lined streets.
These are the Northridge homes for sale you can purchase in Northridge, CA:
» Single-Family Homes
Single-family homes are the quintessential American-style house sitting on their plot of land.
Condos are essentially apartments that you can buy instead of lease. Residents share ownership of the land beneath the complex and pay monthly fees to a homeowner’s association, which pays for the amenities and upkeep in a condo complex.
Usually attached to neighboring units, townhomes offer the feel of single-family homes while functioning more like condos. Residents pay monthly homeowner dues and share ownership of the land around the houses.
» Small Lot Homes
While small lot homes might look like townhomes from a distance, they are more similar to single-family residences. These units do not touch and sit on tiny pieces of land barely larger than the house itself. Residents don’t pay dues to a homeowner’s association. Instead, they pay low maintenance fees for the upkeep of the communal space.
Co-ops are rare in the region, but you can still find some offerings. These are similar to condos, but buyers don’t technically own their property. Instead, they consist of buildings lived in by an association of members of a housing cooperative. Co-ops are usually a bit cheaper than condos.
» Vacant Lots
You can buy vacant land and then develop something of your own in Northridge, but the process can be costly, and rules around this are complex. You need to be adequately prepared and do lots of research.
Things to Know About Buying a House in Northridge, CA
Northridge is pretty far north of the center of the city, offering a sense of peace from the traditional rhythm of LA while still granting you easy access to all major interstates.
Northridge has pretty much everything you need to live a balanced life all in one neighborhood; outdoor green spaces, plenty of dining spots, and excellent schools. Don’t forget the stunning Southern California climate, which makes for easy year-round living with winter temperatures that never dip below 43.
How about safety?
The crime rate of Northridge is 26% lower than the national average, which makes it one of the safest neighborhoods of Los Angeles County. Your odds of being targeted for a crime in Northridge, CA, are an impressive 1 in 46.
Here are some tips for those moving to Northridge, CA:
- Before moving in, make sure that you won’t have a problem with a driver’s license or resident’s card.
- If you have a pet, learn how to get a new dog license.
- If you have a business and are moving to another office, especially from another state, close it in your previous state and open in California.
When is the Best Time to Buy a House in Northridge, CA?
Despite the common assumption that the Southern California real estate market is always hot, buying and selling houses in the Los Angeles area has seasons. The same goes for the local Northridge real estate market.
Late summers are a fantastic time to browse for real estate in Northridge, as this is when owners cut prices and buyers looking to move before the school year commences exit the marketplace. While relocating and resettling in the holiday season isn’t appealing, you can land a pretty good mortgage rate in December if that doesn’t bother you.
According to Zillow, late spring is when you can find the newest listings, with the number of residences hitting the market spiking between April and June. June to August is when the most overall homes are on the market—having collected during the spring months.
Do I Need a Real Estate Agent in Northridge?
Technically, no. But navigating the ins and outs of purchasing a home in Northridge—particularly for first-time buyers —can be challenging without a professional.
In addition to helping you find homes in your price range and arranging showings, a good agent will also guide you through the terms of the sale and help you through the negotiation process with the seller.
Get in Touch with Mel Wilson, Your Northridge Real Estate Expert!
Are you looking to quietly buy or sell a home in Northridge? Real estate agent Mel Wilson is the one to call!
Mel Wilson & Associates is the leading real estate agent in Northridge and has helped hundreds of clients find Northridge and Los Angeles luxury homes. Our goal at Mel Wilson & Associates is to deliver superior service with superior results. We are committed to offering you the real estate experience you should expect and deserve.
We’re not just your Northridge Real Estate Expert. We sell real estate all across Southern California! Give us a call at 818-993-4606 or contact us online today!