Conejo Valley Real Estate Market Report – October 2019

Conejo Valley Real Estate Market Report – October 2019Here is your Conejo Valley Real Estate Market Report – October 2019.  Inventory is dropping dropping!

Year over year listed properties for October 2019 dropped 29% / Year over year sold properties increased 9.5% / Year over year pending (contract) properties are up 8.2%.  Year over year increase in pending and sold properties are likely attributed to low interest rates.  The low inventory will likely keep us in a Sellers market through the next couple months.

Average price per square foot dropped 8.9% from last month and was reduced by 1.5% year over year.  We saw an increase of 5.4% from last months days on market.  Average days on market year over year increased to 3.2%.

Average active price on properties decreased 14.1% year over year and sold prices decreased 6.2%.

October 2019 is a Seller’s market*

Months of Inventory based on Closed Sales in October 2019: 1.9
• Reduced 27.2% compared to last month
• Down 36.6% 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

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