The September 2015 Simi Valley Housing Report is much the same as the last few months, median pricing is still moderately higher than January 2015. The number of homes sold is slightly up from the prior year. The most active range in the market continues to be homes in the $400,000-$600,000 range. This most active range is still showing final sales prices close to original asking prices with slight reductions. Interesting that single-family detached homes below $400,000 were selling at almost 9% below the original asking price. This is another indicator the buyers are not just throwing money at anything that comes on the market. Especially investors looking for flip properties.
The Simi Valley housing market is still running approximately a 2 1/2 month supply of inventory. This may seem low by old standards, but with the almost infinite opportunities of marketing homes through the Internet, homes have 100 times the exposure they did prior to people walking around with smart phones and tablets. This all translates into a new scenario which creates shorter days on market for most homes. If you home has been on the market for more that 2.5 months without an offer it most likely suffers form one of the following. Price is too high, Issues with it’s Condition or Location issues. Only a serious negative economic event would create an increase in the days on market number.
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