Sales are in full swing! Having another great selling month behind us brings us to the Conejo Valley Real Estate Market Report – July 2019. With the beautiful weather arriving so is the sales for the local real estate market.
Year over year listed properties for July 2019 dropped 8.1% / Year over year sold properties increased 5.6% / Year over year pending (contract) properties are up 2.2%. Buyer should expect to see multiple offers on properties with increased contract properties year over year.
Average price per square foot increased 11.8% / Average days on market year dropped 5.2%. These combination of and increase in sold properties, properties under contract and lower days on market shows that our local market is still VERY HOT!
Average active price on properties decreased 11.8% year over year and sold prices also decreased at 18.1%.
July 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in July 2019: 2.0
- Down 4.8% compared to last month
- Down 13% 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