This year began well, and if it had a heartbeat, it would indicate the patient is doing very well.
We have enough inventory to handle the needs of our buyers. That is the macro version. The micro version is that we continue to have trouble finding good listings for some buyers, and multiple offers are becoming the norm when a move-in property comes onto the market. In the Conejo, we have been tracking the same inventory numbers as last year for the past three months.
In Simi/Moopark, a little different story with inventory. This chart is begging for a smoothing function. I guess you could say it shows the ups and downs of real estate. It does make one wonder, as the chart in Conejo is much more smooth.
Inb
In any event, remembering the Goldilocks comments going around, the inventory seems about right in total numbers. However, not all the inventory is move-in ready, and that is what most buyers are looking for.
The closed escrow chart shows real strength. How much strength? The number of sales is up 16% in both Simi/Moorpark and the Conejo Valley.
Let’s look at the statistics pages, so we can see some numbers we want to use in answering the question we always get—How is the market doing?
The inventory of homes priced below $750,000 is only 5-6 weeks worth of sales.
Is that having the expected effect on prices? Prices are still strong. Even though there is officially three days left in the month of June, here is the pricing report for the Conejo valley.
And now for Simi Valley/Moorpark
Can you feel that strong heartbeat?
How is the real estate market?
The market continues to be robust. The number of sales is up 16% compared to last year. The inventory is reasonable, but a little lower than what we experienced last year. Prices are up, about 6%. There are multiple offers for prime properties. No matter whether you are planning on selling now or later, think about updating your home, and enjoy living in it. Your home is an excellent investment, and you will enjoy living in your improved property. When you do decide to sell, you will most likely get your improvement investment back, and you will sell your home in a shorter period of time.
OK, that’s your elevator speech for the week. Now, go find an elevator.
If you want some information on which improvements recoup the most for your investment, try this website:
http://www.remodeling.hw.net/cost-vs-value/2015/pacific/ventura-ca/
Have a prosperous week.
Chuck