Simi Valley Moorpark Real Estate YTD Sales Report through February 2009
The Headline for Simi Valley Moorpark Real Estate is…..”NOT MUCH HAS CHANGED”. That is except for inventory continues to shrink. Typically shrinking inventories favor sellers with modest increases in pricing, but the combination of tight lending criteria, our recession/depression, unemployment now over 10% in the State of California and a glut of Foreclosed – Short Sale properties for sale; Buyers remain cautious and bearish. Sure you will hear some hype about multiple offers and Buyers having a hard time getting an offer to go through, but if you look at the over all picture, the numbers for Simi Valley Real Estate show that we are about where we started off last year (2008). The following Simi Valley Moorpark Real Estate YTD Sales Report is created by myself and posted monthly on this blog. Make sure to look though the Market Updates Category for past reports and trending.
If you are in the market to buy a house and you have missed out on one or more properties, be patient and don’t just settle for a house because of the pressure from other buyers. Many times there are much better homes in tip top shape that are getting overlooked because of the action on the Foreclosed and Short Sale homes. The lure in a lower price will be offset by numerous repairs and home improvements you will have to deal with, as deferred maintenance is typical of Short Sale and Foreclosed homes.
Be sure to subscribe to this blog on the upper right hand side of the page either by email or RSS feed as I will be posting pictures of some of the serious issues I am seeing in foreclosed homes, that will cost thousands of dollars to repair.
| Activity – Single Family Detached Homes | ||
| Active Listings | Simi Valley | Moorpark |
| Active | ||
| # Units | 401 | 135 |
| Average List Price | 557,286 | 858,660 |
| Average Days Listed | 125 | 103 |
| Pending Sales in Escrow | ||
| # Units | 92 | 25 |
| Average List Price | 443,676 | 589,418 |
| Average Days on Market | 73 | 85 |
| Total Closed Sales for 2008 | ||
| # Units | 127 | 32 |
| Average List Price | 447,420 | 524,767 |
| Average Sold Price | 437,360 | 509,175 |
| Average Days Listed | 81 | 75 |
| Average Closed Sales per month | 63.5 | 16 |
| Unsold Inventory Index (in months) | 6.31 | 8.44 |
| Activity – Single Family Attached Homes | ||
| Active Listings | Simi Valley | Moorpark |
| Active | ||
| # Units | 125 | 28 |
| Average List Price | 317,530 | 281,517 |
| Average Days Listed | 148 | 112 |
| Pending Sales in Escrow | ||
| # Units | 17 | 14 |
| Average List Price | 255,782 | 241,999 |
| Average Days on Market | 120 | 77 |
| Total Closed Sales for 2008 | ||
| # Units | 20 | 15 |
| Average List Price | 255,935 | 268,223 |
| Average Sold Price | 251,228 | 263,540 |
| Average Days Listed | 75 | 118 |
| Average Closed Sales per month | 10 | 7.5 |
| Unsold Inventory Index (in months) | 10.6412.5 | 3.73 |
