Conejo Valley Real Estate Market Report – September 2019

Conejo Valley Real Estate Market Report – September 2019Here is your Conejo Valley Real Estate Market Report – September 2019.  As we start to enter the seasonal downswing this is somewhat expected.

Year over year listed properties for September 2019 dropped 26.5% / Year over year sold properties increased 1.2% / Year over year pending (contract) properties are up 16.1%.  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 increased 8.4% / Average days on market year over year was reduced by 4.2%.  The reduced days on market is yet another indicator of Sellers Market.

Average active price on properties decreased 12% year over year and sold prices increased 10%.

September 2019 is a Seller’s market*

Months of Inventory based on Closed Sales in September 2019: 2.7
• Up 12.5% compared to last month
• Down 27.3% 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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