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CALABASAS Community Spotlight and Real Estate Market Report (Homes For Sale / Pending / Sold) - February 2010

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Real Estate Agent with Keller Williams Realty - Beverly Hills BRE# 01421366

CALABASAS Community Spotlight and Real Estate Market Report (Homes For Sale / Pending / Sold) - February 2010

Where is Calabasas, California?



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Calabasas Homes For SaleA little Calabasas history and background

Calabasas is an affluent city in Los Angeles County, California. As of the 2000 census, the city population was 23,123.

Calabasas was incorporated on April 5, 1991.  It is 12.9 square miles.  Calabasas is a green city and adopted a new green initiative to improve the quality of the environment, reduce green house gas emissions, use finite natural resources more efficiently, and save its residents money.

As of 2005, there were 23,123 people, 8,350 households, and 5,544 families residing in Calabasas. There were 8,350 households in Calabasas. The racial makeup of the city was 85.92% White, 2.18% Black or African American, 0.13% Native American, 7.71% Asian, 0.04% Pacific Islander, 1.31% from other races, and 2.71% from two or more races. 4.74% of the population were Hispanic or Latino of any race.

The city, much like some surrounding areas and into parts of the West San Fernando Valley, has a high concentration of Jews and Persians. Many of the people of the two ethnic groups mentioned are second and third-generation Americans.

Calabasas features many families with children -- in fact, 44.4% of Calabasas households had children under the age of 18 living with them. The city is known for terrific public schools and is zoned to the Las Virgenes Unified School District.

According to a 2007 estimate, the median income for a household in the city was $104,935, and the median income for a family was $122,482.

Some helpful Calabasas links

City of Calabasas Official Page
Calabasas Chamber of Commerce
Las Virgenes Unified School District
Calabasas Municipal Code

Calabasas Homes For SaleCalabasas Real Estate Market Report (Homes for Sale / Pending / Sold) - February 2010

 

  • There are currently 141 homes for sale in Calabasas, with a median list price of $1,595,000 and a high list price of $14,900,000.
  • There are 56 pending homes (in escrow) in Calabasas.
  • In the last six months, 139 homes sold in Calabasas, with a median sales price of $955,000 and high sales price of $6,500,000.  The average days on market for homes sold in Calabasas in the last six months was 98. 
  • In the last month, 26 homes sold in Calabasas.
MY TAKE - What does all of this mean?

Although Calabasas is an affluent community, it has not been completely insulated from the real estate recession experienced in the rest of the country and in Los Angeles.  Since most Calabasas homes require jumbo loans (above $729,500), the tightening of the lending market has caused a drop in demand and therefore an associated decrease in the median selling price.  Calabasas also currently has its fair share of short sale properties and has experienced an increase in overall supply of homes over the last few years.

At the end of the day, I believe Calabasas presents an excellent buying opportunity at this time.  

If you are interested in a complimentary real estate market evaluation of your Calabasas home, or are interested in purchasing a home in Calabasas, please call me at 310.933.4281 or e-mail me.

-- Danny

Connie Tebyani
Platinum Home Staging, Inc. : RESA-Pro - Calabasas, CA
Platinum Home Staging, Los Angeles and Ventura County

Just curious, it's obvious that The Oaks are included in these numbers.  Is Hidden Hills? - again, just currious - Thank you!

BTW - here's a tid-bit you may have missed.  Did you know that Calabasas was the FIRST city in CA to ban smoking in outdoor, public areas (such as the Commons)? Just a little FYI ;-)

Feb 10, 2010 01:44 PM
Danny Batsalkin
Keller Williams Realty - Beverly Hills - Beverly Hills, CA
Los Angeles Real Estate | 310.432.5706

Hi Connie,

Thanks for the comment.  Yes - The Oaks is definitely included.  Hidden Hills is not - it's a separate area in our MLS.

As for the smoking ban - YES I am definitely aware of it - here's the link. I actually did not include it in the original post on purpose because, as an occasional cigar smoker, I'm not a fan of it and I don't support it.

Do you do a lot of staging work in Calabasas?

-- Danny

Feb 10, 2010 02:04 PM
Connie Tebyani
Platinum Home Staging, Inc. : RESA-Pro - Calabasas, CA
Platinum Home Staging, Los Angeles and Ventura County

I do a lot of Staging all over Los Angeles ;-)  but the Calabasas area is one of my favorites (for obvious reasons).  I will actually be slipping into Hidden Hills later this morning before doing an installation in West Hills.

 

Feb 11, 2010 02:00 AM