Simi Valley Moorpark Real Estate Market Update Nov 2008

Simi Valley Moorpark Real Estate Market Update Nov 2008

The Simi Valley Moorpark Real Estate annual end of the year slow down has officially begun.  The only reasonable explanation for the slowdown has much to do with the holidays and people just not as motivated to do anything till the new year.  The historical data shows this trend to last up through February each year.  The good news is that last year (2007) Simi Valley home sales suffered more than just a slow down; Simi Valley hit record  lows in the number of homes sold..  This year Simi Valley home sales is well above that pace.

While it would be very premature to proclaim a market bottom at this time, average list prices and average sales prices for Simi Valley homes in November did not fall below October’s averages.  Additionally the decline in total homes for sale (inventory volume) looks to be slowing.

Activity – Single Family Detached Homes
Active Listings	Simi Valley	Moorpark
Active
# Units	431	131
Average List Price	572,856	893,088
Average Days Listed	114	104
Pending Sales in Escrow
# Units	73	17
Average List Price	417,688	454,841
Average Days on Market	78	75
Total Closed Sales for 2008
# Units	908	206
Average List Price	526,669	613,540
Average Sold Price	510,582	588,025
Average Days Listed	89	106
Average Closed Sales per month	82.55	18.73
Unsold Inventory Index (in months)	5.22	6.99

Activity – Single Family Attached Homes
Active Listings	Simi Valley	Moorpark
Active
# Units	112	45
Average List Price	324,627	351,563
Average Days Listed	136	110
Pending Sales in Escrow
# Units	25	6
Average List Price	268,374	249,117
Average Days on Market	103	61
Total Closed Sales for 2008
# Units	173	58
Average List Price	316,392	313,577
Average Sold Price	306,003	303,502
Average Days Listed	85	94
Average Closed Sales per month	15.72	5.09
Unsold Inventory Index (in months)	7.12	8.84