Here 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