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Simi Valley Indian Hills Indian Estates Tract Sales History 2003-July 2011

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Below are tables representing Simi Valley Indian Hills Estates Tract Home Sales History. The Indian Hills Estates Tract is located just north west of Alamo Drive and Yosemite. There were just under 100 homes built in this tractand they are considered the more luxurious of the 5 tracts. This is a quick snapshot at how the Indian Hills Estates Tract has reacted to the changing market. Sales data is from 2003 through July 13th 2011.

The Indian Hills area in Simi Valley consists of 5 tracts. The Ranch and Ridge Sections are the two largest tracts in the development with the Indian Meadows being the third largest.

Indian Hills Estates Simi Valley 2003 Sales History
Average Sale Price	$644,470
List to Sale Ratio	99.45%
Average Days on Market	50
Number of Homes Sold	5

Indian Hills Estates Simi Valley 2004 Sales History
Average Sale Price	$791.190
List to Sale Ratio	99.43%
Average Days on Market	58
Number of Homes Sold	5

Indian Hills Estates Simi Valley 2005 Sales History
Average Sale Price	$926,500
List to Sale Ratio	97.12%
Average Days on Market	9
Number of Homes Sold	4

Indian Hills Estates Simi Valley 2006 Sales History
Average Sale Price	$894,112
List to Sale Ratio	93.12%
Average Days on Market	64
Number of Homes Sold	4

Indian Hills Estates Simi Valley 2007 Sales History
Average Sale Price	$892,300
List to Sale Ratio	94.17%
Average Days on Market	90
Number of Homes Sold	1

Indian Hills Estates Simi Valley 2008 Sales History
Average Sale Price	$515,000*
List to Sale Ratio	81.88%
Average Days on Market	142
Number of Homes Sold	1

* This house was the smallest model in the tract. It was a short sale ans was a fixer that needed work.

Indian Hills Estates Simi Valley 2009 Sales History
Average Sale Price	$650,000
List to Sale Ratio	91.55%
Average Days on Market	194
Number of Homes Sold	1

Indian Hills Estates Simi Valley 2010 Sales History
Average Sale Price	$628,316**
List to Sale Ratio	100%**
Average Days on Market	10**
Number of Homes Sold	3

** One of the properties started with a list price of $849,900 and eventually sold for $665,000. It was on the market for 1 year. It sold close to the reduced price and had a sales price close to the the other two sales. The one year market time and the huge price reduction skews, how this home would have reacted to market conditions if priced properly as the other two properties.

Indian Hills Estates Simi Valley thru July 2011 Sales History
Average Sale Price	$712,500
List to Sale Ratio	90.21%
Average Days on Market	73
Number of Homes Sold	1

There are currently two homes for sale in the Indian Hills Estates tract as of July 13 ,2011. The average list price of the two homes is $626,975 with an average of 40 days on market, I have been most these homes and based on location amenities and pricing the final sales price will most likely average down close to the list price on one of the homes as it is in very good condition and the location is better. The other listing (which is the same model) is in poor condition and backs Yosemite. It may close lower than the asking price.

The one sale in the Indian Hills Estates tract for 2011 at $712,500 in not an indication that prices are rising, this property really goes back to the rule of “Location, Location, Location.” It sits perfectly opposite the 5th tee at Simi Hills Golf Course and over looks the 5th green / fairway approach. A good size lot for the tract and pool. The sales comp will help the neighborhood, but it would be premature to say it will drive average pricing for the neighborhood over $700k.

Simi Valley Home Sales Report YTD – October 31, 2009

Simi Valley California home sales were down in October 2009. This is very interesting in that the market has been pushed in a positive direction by the first-time home buyers tax credit. In September and October buyers knew that the tax credit was scheduled to expire on November 30, this should have reflected in an increase in sales. So far, November sales of single-family detached homes will be stronger than October. Looking closer at these November sales, the majority are in the entry-level price range making this increased activity for November closely tied to the tax credit.

With the extension of the tax credit moved to April 30, 2010, activity should remain brisk as buyers try to take advantage one final time.

Key factors including the affordability, low interest rates, and low inventory are keeping first-time buyers and the investor market very interested in home purchases. While the economy struggles both nationally, statewide and regionally; home buyers and home sellers should be aware that any recovery will most likely be drawn out over a course of years and fairly bumpy from here on out.

What this means for Simi Valley home sellers is that equity recovery is probably not around the corner, but the low inventory levels are helping sellers remain with a slightly stronger negotiating position over the buyers.

What this means for Simi Valley home buyers is that this high level of affordability will continue to create competition for the low supply of inventory.

You’ll notice below that I’m changing the format of my standard monthly market update for Simi Valley home sales. While the averages from the multiple listing service are interesting, if you’ve seen the charting I have posted over the last year, those averages are skewed as the lower end of the market is behaving much differently than the upper end.

Simi Valley single-family detached activity up through October 31, 2009 was as follows:

Total Detached Homes Sold = 60
Average Sale Price = $460,845
Average Market Time = 82 days

Of these sold properties – 11 were short sales and 12 were foreclosures. The remaining 38 were non-distressed sales.

Total Detached Homes Active For Sale = 183

Of these active properties, 25 were short sales and 11 were foreclosures. The remaining 147 were non-distressed sales and an additional 270 homes were in escrow, with 173 of those Detached homes as short sales and 33 foreclosures.

An evident monthly trend is the extremely high ratio of detached homes in escrow compared to available inventory and actual closed sales. This further points to the difficulty sellers are having with short sales. To understand why there is such a high failure rate on short sales please see my article: What Is a Short Sale And Can I Short Sell My House

Simi Valley Town Homes & Condominiums are reacting better and this trend is most likely tied to the low interest rates, affordability and the first-time home buyer tax credit.

Total Attached Homes Sold = 25
Average Sale Price = $277,907
Average Market Time = 93 days

Of these attached properties sold, 6 homes were short sales and 4 homes were foreclosures. The remaining 15 homes were non-distressed sales.

Total Attached Homes Active For Sale = 50

Of these Attached Active Properties, 15 were short sales and 2 were foreclosures. The remaining 33 were non-distressed sales and an additional 133 Attached Simi Valley homes in escrow with 63 as short sales and 12 as foreclosures.

Both in the attached and detached Simi Valley housing sectors these high numbers of short sales are very important to track. Month after month after month, large numbers of homes in escrow have been dominated by short sellers. An average of 80 single-family detached homes are closing escrow each month and 18 attached homes closing. The large volume of nonperforming loans and bad assets are not dominating the low closing rates and seeing that less than 50% of the monthly sales are distressed properties, the low success rate in purging the market of the short sales, will keep any recovery slow.

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