Simi Valley Housing Market Update YTD August 31, 2009

Simi Valley Housing Market Update YTD August 31, 2009

Simi Valley Home Sales through August 31, 2009 continue with similar trending patterns as June, July and August are following our typical seasonal patterns of lower volumes as we head in to the fourth quarter.  Simi Valley Single Family detached homes peaked in May at 92 closings and pulled back to 80 a month for June, July and August.  This is 18 units fewer than in 2008 for June and July; 7 fewer than August 2008.  While low interest rates, historically low inventory and the $8000.00 federal tax credit for first time buyers continues to drive the lower end of the market,  the recovery is going to be protracted and drawn out.  Any substantial increase in interest rates, available inventory or pricing could put the brakes on an already struggling Simi Valley housing market.

Activity – Single Family Detached Homes
Active Listings	Simi Valley	Moorpark
Active
# Units	347	109
Average List Price	563,665	1,007,273
Average Days Listed	108	130
Pending Sales in Escrow
# Units	105	26
Average List Price	444,521	693,922
Average Days on Market	61	81
Total Closed Sales for 2008
# Units	635	171
Average List Price	465,188	566,132
Average Sold Price	456,256	548,764
Average Days Listed	84	84
Average Closed Sales per month	79.38	21.38
Unsold Inventory Index (in months)	4.37	5.10

Activity – Single Family Attached Homes
Active Listings	Simi Valley	Moorpark
Active
# Units	142	27
Average List Price	309,242	263,843
Average Days Listed	183	125
Pending Sales in Escrow
# Units	31	13
Average List Price	277,241	284,832
Average Days on Market	61	71
Total Closed Sales for 2008
# Units	122	57
Average List Price	279,051	264,168
Average Sold Price	271,051	258,018
Average Days Listed	97	87
Average Closed Sales per month	15.25	7.13
Unsold Inventory Index (in months)	9.31	3.79