Another warm month, not only in temperature but also in the local real estate market! To summarize, the Conejo Valley Real Estate Market is still in a Sellers Market and will likely continue on this trend for some time.
Year over year listed properties for April 2019 increased 18% / Year over year sold properties increased 4.2% / Year over year pending (contract) properties are up 7.8%. We’re definitely in the selling season with more homes coming on the market and sales heating up!
Average price per square foot dropped to 0.5% / Average days on market year remained flat at 0%. These numbers could mean some deals for Buyers.
Average active price on properties decreased 12.5% year over year and sold prices decreased 0.6%.
And finally months of inventory is up 14.8% and we are in a Sellers Market.
April 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in March 2019: 2.3
- Down 8% compared to last month
- Up 14.8% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales