As the market in the Conejo Valley heats up not only temperature wise but also in real estate we’ll have less time to devote to the market report. So, going forward I’m just going to give you some basic information on the current market and if you have any specific questions please feel free to submit a comment below and we’ll respond asap.
Year over year listed properties for March 2019 increased 38.4% / Year over year sold properties dropped 5.2% / Year over year pending (contract) properties are up 2.5%
Average price per square foot dropped to 2.3% / Average days on market year over had a slight drop of 1%
Average active price on properties decreased 12.3% year over year and sold prices increased 5.3%
And finally months of inventory is up 51.9% and as per the graph in the image above we are in a Sellers Market.
March 2019 is a Seller’s market*
Months of Inventory based on Closed Sales in March 2019: 2
• Down 23.4% compared to last month
• Up 51.9% 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