The July 2015 Simi Valley housing report has some very interesting developments. The number of single family detached homes sold in July was 151. This is the highest on record since the housing bubble burst almost 10 years ago. Overall volume cooled in 2014 compared to 2012 and 2013, however, 2015 has had higher closing volumes each month so far.
How it breaks down: Even with the increase in activity it still translated into a more even market between Buyers and Seller with no specific advantage to either party. The most active segment of the market continues to be homes priced between $400,000 and $600,000. Sellers took an approximate 2%- 3.5% reduction off the original sale price. The luxury market saw 9 homes see for the month over 1 million dollars with the highest sale recorded at $1,210,000. The luxury market saw homes selling for approximately 4.5% less than original asking price and averaged 78 days on market. The lower price ranges are trending more toward 45 to 60 days on market.
Overall median housing prices are up from January 3.95%. Lending and interest rates have a pretty firm grip on this market. Interest rates have been kept low continuing to make home purchases attractive.