Simi Valley housing sales for December 2014 finished off a little sluggish compared to the year as a whole and compared to December 2013 sales volumes. Average Sales price for single family detached homes increase was approximately 6.3% and the Median sales price is maintaining at 8.5%. The notable news so far is the continuing increase of sales of million dollar homes in Simi Valley. While all homes over $700,000 have seen more activity and more closings, homes over 1 million dollars doubled their closings from 14 in 2013 to 30 for all of 2014. One trend that continues to hold is that homes across all price ranges are not selling at full asking price. While you might hear of a property that sold for full price, that is the exception and not the rule. The average sale price is trending approximately 5% below the original list price. This indicates that while sellers try to stretch their asking price, buyers are still negotiating. Keep in mind that this difference happens in a couple ways. This does not mean that Buyer’s come in 5% below asking price and get their demand; many times the house was listed high and then reduced until it started to generate offers. Houses priced right in top condition sell quickly in this market.
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