The Simi Valley Housing Market Report for September 2014 remained relatively unchanged following the same pattern and trend as August. Housing in the upper end and luxury market for Simi Valley is helping move the median and average pricing upward with the bulk of the sales continuing to occur between $400,000 and $600,000. Lower interest rates in September enticed some buyers to lock rates and nudged activity in the refi market. There is not a shortage in inventory, however buyers continue to remain cautious with their purchases. While the lower price ranges see home selling close to the asking price, as you move up in price, is not unusual to see homes selling for 3% to as much as 8.5% below the original asking price. The overall increase in median home price since the beginning of the year is still under 10%. Fourth-quarter sales will help indicate how much the market is flattening out.
See past Simi Valley Housing Market Reports
August 2014 Housing Market Report
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