February 2010 saw only 59 closed sales in Simi Valley for Single Family Detached homes. This is a drop from 74 closings in January and 98 in December. At first glance this is a concerning number, however for the last few years this really matches pace for February sales. There are many mixed signs in the Simi Valley real estate market, however the average sales price has remained stable over the last 12 months and has increased slightly.
Looking closer at the closings, another interesting statistic sticks out. 60%-74% of all closings are being financed with 20% down and another 10% of the closings are purchased with All Cash. This in no way signals an end to a tough market, but it does show that fear of significant declines in price are not around the corner without some very dramatic chain of events.
To stay up to date on the Simi Valley Real Estate Market and Simi Valley local economy, please visit www.HomeBuysBlog.com
Rainer
104,506
104,506
Keller Williams Realty Simi Valley2655 First St #150Simi Valley,CA93065
smartphone(805) 432-7705
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