Summer is here and Sellers should rejoice! Having another great selling month behind us brings us to the Conejo Valley Real Estate Market Report – June 2019. With the beautiful weather arriving so is the sales for the local real estate market.
Year over year listed properties for June 2019 dropped 3.7% / Year over year sold properties dropped by 6.5% / Year over year pending (contract) properties are up 2%. Buyer should expect to see multiple offers on properties with increased contract properties year over year.
Average price per square foot dropped to 4.6% / Average days on market year remained flat at 0%. These numbers could mean some deals for Buyers.
Average active price on properties decreased 10.8% year over year and sold prices also decreased at 5.5%.
And finally months of inventory was flat at 0% and we are in a Sellers Market.
June 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in June 2019: 2.3
- Down 8.1% compared to last month
- Flat at 0% 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