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April 2013 Simi Valley Housing Sales Report

Beautiful Homes for SaleSome interesting but not unusual shifts in the Simi Valley housing market happened during April. Sales occurring during January, February and March are the result of home buyers tying up homes under contract in the months of November through January. Typical home buyer activities during these months tend to be slower partly due to holidays. By the time April rolls around, buyers involved in those sales were putting homes under contract in February and March.

As newspaper reports caught up with the news of multiple offers and a stimulated buyer pool,  home selling at or above the asking price became the norm. Single-family detached homes selling in April over almost all price ranges, closed at asking price or a little bit above.  Certainly we all heard stories of home selling for $20,000 or $50,000 over asking price, however the average closing prices for the month show that 1% to 2% over asking was the norm and not some a higher amounts that we’ve heard around the water cooler or down at the local Starbucks.

Pricing has increased over the last 12 months and this most notably shows up in the homes priced under $500,000.  Supplies of single-family detached homes under $300,000 are dwindling. Homes priced between $500,000 and $400,000 or now selling in higher volumes than the homes priced between $400,000 and $300,000. Homes between $500,000 and $800,000 are seeing increased closing volumes.

Simi Valley Housing Sales April

Posted in: Market Updates Tagged: Home Sales, housing, interest rates, inventory, Market Report, Simi Valley

About Ted Mackel

Active real estate broker and entrepreneur in Simi Valley. Ted has a passion for business, has deep knowledge about residential and commercial real estate and is one of the few to be a long time blogger/writer on these subjects. In his free time you'll find Ted enjoying baseball with his family (Go Dodgers), reaching his goal of spanish fluency, and pursuing his hobbies with RC aircraft and Lionel Trains.

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Client Testimonials

Ted actually helped us find a new home AND sell two homes. He was beyond helpful with everything. When looking for a home, Ted didn't waste our time…My husband and I are really busy so this meant a lot to us….he always had plenty of houses lined up for us to look at and he acted as our personal chauffeur. He really knows Simi, so he knew exactly where to take us….and ultimately he found us our beautiful new home. Selling the other two was a breeze…Ted took care of everything. No complaints here!

suelac2

Ted was wonderful in helping us sell our house. He was in constant communication with us and made the process very easy and stress-free. He was very knowledgeable and professional. I highly recommend him.

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geralyn

Ted's continuing knowledge of local real estate markets enabled an immediate, correct valuation of the house we sold. Calm and competent throughout the process, he remained unflappable through the invevitable hurdles. His escrow team at Keller Williams were perfect.

jeff

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