Simi Valley Wood Ranch Home Sales 2006 – July 2010

The tables below breakdown the sales for single-family detached homes in Simi Valley’s notable Wood Ranch community.I’ve purposely not mixed the Wood Ranch condo-town home market with this data as the diversity and size, types of complex and amenities are a very broad range for attached homes –  skewing the averages.

The same pattern is seen in the Wood Ranch community as in others I have looked at in Simi Valley. In May of 2009 the market hit a low, which may prove to be our market bottom. As encouraging as that news is, it doesn’t mean that our struggling real estate market is in a full recovery.

A recent article from DSNews.com discusses how distressed properties will impact the market into 2012.

loss mitigation efforts like the Treasury’s Home Affordable Modification Program (HAMP) that are preventing another debilitating flood of foreclosures from hitting the market. Although HAMP and its private sector counterparts are likely simply delaying the inevitable and “prolonging the pain,” as Barclays analysts put it, such programs support a better outcome for the industry than one big market-shattering shock, they say. Barclays Lowers REO Invetory Estimate

The number of homes  with financing issues that will influence the market is still very large and will take a number of years to get through.  A quick glance at the public record reveals that  Simi Valley’s Wood Ranch community has approximately 54 properties that are in the process of foreclosure. Less than half that number has an auction date set for the property. Looking at Long Canyon as an example on one tract in Wood Ranch shows 9 properties in pre-foreclosure and 4 additional properties set with auction dates.

While the banks are much more cooperative with short sales and loan modifications compared to the last two years, these troubled homes and the ones that will be added to the list this year and next remain a negative influence on Simi Valley Wood Ranch home values.

Sales broken down by year with highs, lows averages and days on Market.

Wood Ranch Simi Valley 2006 Sales Data
AVERAGE Sale Price	$900,838
HIGH Sale Price	$3,350,000
LOW Sale Price	$500,000
List to Sale Ratio	83.2%
Average Days on Market (DOM)	48
Number of Homes Sold	121

Wood Ranch Simi Valley 2007 Sales Data
AVERAGE Sale Price	$868,729
HIGH Sale Price	$1,480,000
LOW Sale Price	$525,000
List to Sale Ratio	94.89%
Average Days on Market (DOM)	78
Number of Homes Sold	116

Wood Ranch Simi Valley 2008 Sales Data
AVERAGE Sale Price	$712,166
HIGH Sale Price	$1,500,000
LOW Sale Price	$380,000
List to Sale Ratio	90.80%
Average Days on Market (DOM)	117
Number of Homes Sold	97

Wood Ranch Simi Valley 2009 Sales Data
AVERAGE Sale Price	$671,768
HIGH Sale Price	$1,287,000
LOW Sale Price	$381,500
List to Sale Ratio	92.9%
Average Days on Market (DOM)	82
Number of Homes Sold	92

Wood Ranch Simi Valley 2010 Sales Data Through July 23rd
AVERAGE Sale Price	$693,982
HIGH Sale Price	1,300,000
LOW Sale Price	425,000
List to Sale Ratio	95.6%
Average Days on Market (DOM)	73
Number of Homes Sold	52

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Author – Ted Mackel Simi Valley Real Estate Agent – Keller Williams Realty

Ted Mackel is a top producer at Keller Williams Realty Simi Valley,

specializing in Simi Valley Real Estate

(805) 432-7705