August 2019 sales numbers are here and they’re a bit lower than anticipated. Here is your Conejo Valley Real Estate Market Report – August 2019. As we start to enter the seasonal downswing this is somewhat expected.
Year over year listed properties for August 2019 dropped 15.2% / Year over year sold properties increased 12.3% / Year over year pending (contract) properties are down 13.3%. Potential buyers should be preparing to look for homes as there may be some deals to be had around the corner in the upcoming months.
Average price per square foot increased 2% / Average days on market year over year was flat at 0%. Another market indicator of a potential slowdown is the flat days on market.
Average active price on properties decreased 20.6% year over year and sold prices increased 4.9%.
August 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in August 2019: 2.4
• Up 14.1% compared to last month
• Down 3.9% 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