• Menu
  • How to reach Ted
  • Blog
  • About Ted
    • Ted Mackel Bio
    • Ted’s Resume
    • Testimonials
    • Speaking & Training
  • FAQ – PRIVACY
  • Short Sale Info

Community Home Buying & Selling Real Estate Guide

Insider's Guide to Real Estate Research & Home Owner Information

(805) 432-7705
cell/text
CABRE Lic#01224852
  • Menu
  • Home
  • Buy
    • Find My Perfect Home
    • Buyer Tips
  • Sell
    • What’s Your Home Worth?
    • Marketing Homes For Sale
  • Communities
    • Homes in West Simi Valley 93065
    • Homes in East Simi Valley 93063
    • Moorpark Homes For Sale
    • Thousand Oaks Homes For Sale
    • Big Sky Homes
    • The Crest at Wildhorse Canyon
    • Shadowhawk Homes
    • See Wood Ranch Simi Valley Homes For Sale
  • My Mobile App
  • Client Reviews

August 2013 Simi Valley Housing Update

2013 Condominium Sales Simi ValleyHousing activity in Simi Valley for August 2013 is beginning to show some easing. While the $400,000 a $500,000 price range continues to dominate sales, the list to sell ratio in almost all price categories is starting to back off. This is still a strong seller’s market however homes are selling just under full list price and multiple offers are common.  The pressure on the lower priced single-family detached homes has helped the Simi Valley condominium/ townhome market rebound as is these properties have become the affordable replacement for a single-family detached home.

Interest rates for financing purchases peaked at 4.46% for the month which will slow or curtail any type or run away price increases. Inventory is now double what was 18 months ago and distressed properties represent less than 18% of all the properties that sold in August. This is quite a significant shift from last year when distressed properties were still commanding 30%, 40% or even 50% of the sales in any given month. Foreclosures are few and far between and those looking to the foreclosure market for a deal will be battling with many others as Simi Valley only had two foreclosures close escrow in August.

The backlog of escrows that has plagued the market for the last several years has been reduced to a fairly manageable level. Currently there are just over 200 homes under contract, this is approximately 40% more homes that are selling each month.  60 properties currently in escrow of this 200 are currently short sales. Short sale escrow times typically run several months so of these 60 properties only a small percentage will actually close in September.

[wnt_grid title=”Simi Valley Homes For Sale” minprice=”300000″ maxprice=”500000″ city=”Simi Valley” zipcode=”93065″ ownertype=”all” paginated=”true” sortoptions=”false” maxresults=”3″ /]

 The California Association of Realtors most recent report shows that statewide trends are not much different than what is happening in Simi Valley. The Simi Valley inventory is under two months supply, but that is up to the first and second quarter when there was less than one month supply. The California Association of Realtors reported the following:

• The available supply of existing, single-family detached homes for sale inched up in August to 3.1 months, up from July’s Unsold Inventory Index of 2.9 months. The index was 3.2 months in August 2012.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A six- to seven-month supply is considered typical in a normal market.
• The median number of days it took to sell a single-family home also edged up to 28.8 days in August from 27.8 days in July, but was down from 41.1 days in August 2012.
• Mortgage rates moved higher in August, with the 30-year, fixed-mortgage interest rate averaging 4.46 percent, up from 4.37 percent in July 2013 and up from 3.60 percent in August 2012, according to Freddie Mac.  Adjustable-mortgage interest rates in August averaged 2.65 percent, slightly down from 2.66 in July but down from 2.67 percent in August 2012.

Posted in: Market Updates Tagged: Condominium, Home Sales, housing, interest rates, inventory, Market Report, Simi Valley, single-family detached, town home

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.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Post navigation

« Three Key Home Seller Strategies
How Does The Health Care Mandate Effective Your Coverage? »
Search for:

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.

reuel

Professional and very easy to work with.

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

Categories

  • 365 Things to do in Simi Valley
  • Buyers
  • Computer Tips
  • Credit Reports
  • Events
  • Food
  • for Kids
  • Foreclosures
  • Home Improvement
  • Home Safety
  • homes for sale
  • Local Businesses
  • Local Events & Activities
  • Market Updates
  • Money matters
  • Parks
  • Personal Ramblings
  • Porter Ranch
  • Real Estate News
  • Sellers
  • short sales
  • Sights to See
  • Silverthorne
  • Simi Valley
  • Simi Valley News
  • Simi Valley Tracts
  • sports grill
  • Uncategorized
  • WIKIs

Explore Cities

  • Simi Valley
  • Moorpark
  • Thousand Oaks
  • Newbury Park
  • Camarillo
  • Oxnard
  • Ventura
  • Woodland Hills
  • Tarzana
  • West Hills
  • Bell Canyon
  • Chatsworth
  • Canoga Park

Recent Posts

  • DIY home repairs Moen 1222 Shower Cartridge Replacement
  • Retrofit Rip Offs Los Angeles Residential Property Report 9a
  • Why didn’t my home sell?
  • 10 Cheap and Simple ways to Improve your home’s appeal to buyers
  • Hidden Waterfalls of Simi Valley 365 Things do in Simi Valley
  • Is there Woolsey Fire Property Tax Relief for Affected Home Owners?
  • How To Get Buyer Closing Cost Credits
  • Home Ownership How Things Work In Your House
  • Home Inspection Nightmares volume 1
  • 5 things you need to know before moving to Simi Valley

Properties

Popular Simi Valley Tracts

Big Sky Homes
Encantada Wild Horse Canyon
The Crest Wild Horse Canyon
Madison County Tract
Silverthorne Tract
Shadow Hawk Tract
Bridle Path Homes
Oakridge Estates Tract
         
1858 Sutter Ave Simi Valley CASold
$45k over list - 6 days on market649950

1858 Sutter Ave Simi Valley CA 93065

1858 Sutter Ave
Simi Valley, CA 93065

  • 3Beds
  • 2Baths
  • 1590Sq ft
View Listing
© 2025 · Equity Framework
Log in