Here 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