The August 2015 Simi Valley Housing Report shows decent seasonal summer sales, however, median pricing tailed off just a little bit and total closed volume was lower than 2013 and 2014. Looking at the different pricing sectors for Simi Valley shows much of the same with sellers accepting offers below the original list price. The strongest segment of the market with home selling between $400,000 and $600,000 fared the best with homes selling close to original list price to just one and a half percent below the original list price.
Is the market hot? Is the market cooling? Really neither. The Simi Valley market is probably the most stable it has been in a number of years. Home values are increasing, but not at unrealistic rates. Buyers and Sellers are negotiating terms and price, with neither party having the upper hand. We all can certainly find one or two sales from each month to say otherwise, but the overall average is showing the market to be more balanced. A good example is looking at homes priced over $700,000 in Simi Valley California. These homes are selling at 4% to 10% below the original list price, however median pricing since the beginning year is up showing that negotiation on price dow not always indicate a bad market. Typically what is happening in this segment of the market, sellers are overpricing their homes hoping for a max sale price. These same overpriced sellers are eventually negotiating with buyers below their expectations.
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