The February 2016 Simi Valley Housing Report is all about inventory. Inventory is shrinking, while volume was a low again for February, historically February is always a slow month. Typically in December if buyer activity is slow then the closings that will occur in the second half of January and the first half of February will be slow as well. The low inventory is driving more competition on the existing houses for sale. While there are multiple offer situations on many homes, not all homes are benefitting from multiple offers. Simi Valley homes in the $500,000 to $700,000 range seem to be benefiting the most with sales prices very close to asking on average, however market times are mixed. Homes over $700,000 are seeing longer days on market and healthy negotiating on price between buyers and sellers.
Simi Valley Single Family Detached Homes saw a $520,000 median price for 2015 and the first two months for 2016 have moved upward to $530,000.00.
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