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May 2014 Simi Valley Housing Sales

Housing Market PulseSimi Valley housing sales for May 2014 were approximately 8% lower on volume than in May 2013. While April 2014 didn’t gain any ground or lose any ground, four out of the first five months in 2014 have recorded lower sales volumes. Even though median home price was significantly up for the month of May, that significance was due to a higher number of homes selling over $900,000. Large volumes of luxury homes selling in any given month always moves the median price up. Home sales for the month trended at 2% to 3% below the original listing price. Simi Valley homes selling between $400,000 and $500,000 were more than half the sales with an average market time of just around two months.

The overall average increase in home pricing from the beginning of this year through the end of May is at just 6%. I’ve read some predictions of an overall 10% increase in pricing nationally, we will need to get through the summer see how strong the market will turn out. Simi Valley is definitely seeing a more stabilized market where neither the sellers nor the buyers have an upper hand in the negotiations

Available homes for sale is approximately 3 times higher than 18 months ago giving buyers more choices. Simi Valley currently has a 2.5 month supply of inventory versus the less than one month supply during 2012/2013. Continuing trends favor sellers with homes in excellent condition with good location. Those homes sell quicker and sometimes with multiple offers.

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Posted in: Market Updates Tagged: for out of the first five months 2014 have recorded lower sales volumes., Simi Valley housing sales for May 2014 were approximately 8% lower on volume than in May 2013. While April 2014 didn't gain any ground or lose any ground

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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