Just a quick overview of the Conejo Valley real estate market looking at current stats compares to last year – Agoura Hills, Oak Park, Westlake Village, Thousand Oaks, and Newbury Park.
What’s interesting is that YTD sales are flat with 2017, meaning we’ve sold just about the same amount of homes in both years. The part that is interesting in the data is that inventory (homes available for sale) are growing compared to first quarter and last year at this same time. If you are a buyer, you’ve got more to choose from than in recent times and that puts you in a good spot as you have options. We’ve put less homes in escrow which may mean we are seeing a bit of a slow down in the market. I’ll be watching the data this quarter to see if it continues.
Homes under $1M are selling nicely. We are starting to see days on market creep up in the over $1M market. So, if you own a starter home and are thinking of moving up into your dream home, this may be your moment to do so. Your smaller home should sell fairly quickly and you have a nice selection of homes on the market to find your dream home.
Homes over $1.5M sold well in the first half of this year. It takes longer to sell them but there is a good amount of activity in this price range. What this means is if you are an empty nester in a large home and would rather be playing than cleaning, it might be a good time to downsize. Take advantage of strong home values, sell, and find that cute little home to enjoy life a little more.
If you have any questions, I am here for you and your home always. 818.383.4335.