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July 2016 Simi Valley Home Sales Report

July 2016 Simi Valley home SalesJuly 2016 Simi Valley Home Sales were quite a shocker.  46 fewer homes sold than in July 2015.  While having 105 total single family homes sell in Simi Valley for any given month is not too unusual, this pull back is significant enough that we will need to watch the 2nd half of this year carefully.

The Median Price of $545,000 was a slight dip from last month at $550,000, however, Simi Valley Median Price was 1.38% higher than July 2015.  Inventory is low at a 2 month supply.  Looking closer at the different pricing segment, houses in  $500,000 to just below $1 million range sold for just about 1% below the asking price in July,  This 1% number shows there was not significant price negotiations to be able to label July’s lack luster sales volumes a shift in the market.  Days on market are equally tracking with the 2 month supply.  Another positive trend includes healthy sales in the lover $1 million market.   The biggest negative at this time includes the continued evaporating entry level market.

Posted in: Real Estate News

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.

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

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