Local Real Estate Market Conditions for November
Sales of existing, single-family homes in the Conejo Valley (including homes for sale in Westlake Village, Thousand Oaks, Oak Park, Newbury Park and Agoura Hills) for November jumped to $777,450 which is a 8.7% gain from the median price of $715,000 in November of 2014. Inventory is still down to 455 homes available in the Conejo Valley which is 18.7% less compared to this time last year when there were 540 homes on the market.
What makes this interesting is usually in the fall and winter seasons we would typically see a marked increase in inventory. With interest rates staying below 4% this last quarter, it is still a perfect environment to purchase a home with less competition. The market has picked up with the low inventory, and some of the homes priced correctly are still seeing multiple offers. If you are a seller, this is the time to price your home competitively and still sell very fast. With the low inventory we are seeing homes that are in great shape sell in the matter of days, while homes that need even a little work will sit on the market for months before receiving an offer. If you or someone you know is thinking about making a move please give us a call so we can help navigate through this crazy market we are seeing ahead of us.
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