Listing your house and crossing your fingers was not enough to sell a house in Calabasas during September.
Fourteen escrows closed in Calabasas during September. This is a 39% decrease in numbers of closed escrows from September 2006. The average price of a home decreased slightly, 6.4% to $1,170,000. Its important to note that because the sample size is so low that even one more $2,000,000 sale would have skewed the average price dramatically.
In addition to publishing the overall sales for September, this month I've also included a breakdown of each sale. Its important to note that all but one of these homes took a price reduction at least once during its time on the market, many of these homes had to lower the price several times. There are 248 homes on the market in Calabasas as I write this article and 25 homes with an open escrow. Buyers have many homes to choose from and are price savvy. Although interest rates are low, it is much more difficult to qualify for a mortgage now than it was just six months ago.
Although Calabasas Real Estate experienced a slight decrease in overall price, compared to the rest of the San Fernando Valley we are doing well. Stay tuned for my article "Chasing The Market Down" which explains how to price your home correctly in today's real estate market.
If you are interested in selling your home in Calabasas, please call me to see where your home fits in. if you are thinking about buying a home in Calabasas call me to find out which homes may be flexible in their pricing and ripe for a price reduction.
| Sept. 2005 | Sept. 2006 | Sept. 2007 | # Change from 2006 | % Change from 2006 |
Closed Escrows | 29 | 23 | 14 | -9 | -39% |
Avg. Sale Price | 1,395,603 | 1,250,017 | 1,170,000 | -$80,017 | -6.4% |
September 2007 Home Sales
| | Address
| Bed
| Bath
| Story
| Garage | Sq. Foot
| Yr. Built
| Price
| DOM
|
CONDO
| 4610 Park Granada 3
| 2
| 2
| 1
| 2
| 1,054
| 1972
| $415,000
| 69
|
CONDO
| 26240 Alizia Canyon Dr
| 2
| 1
| 1
| 2 D
| 1,091
| 1965
| $449,500
| 4
|
CONDO
| 4240 S LOST HILLS ROAD
| 2
| 2.5
| 2
| 2 A
| 1,385
| 1988
| $516,000
| 113
|
SFR
| 3420 Stoneridge Ct 16
| 3
| 3
| 2
| 3
| 2,499
| 1990
| $840,000
| 28
|
SFR
| 588 Cold Canyon
| 2
| 1
| 1
| 2
| 1,120
| 1936
| $849,000
| 37
|
SFR
| 23034 Park Dulce
| 3
| 3
| 2
| 3
| 2,864
| 1987
| $850,000
| 74
|
SFR
| 3418 Dorothy Rd
| 3
| 2.5
| 3
| 2 D
| 2,212
| 1992
| $899,000
| 140
|
SFR
| 24771 Calle Serranona
| 4
| 3
| 2
| 3 A
| 2,446
| 1988
| $1,075,000
| 7
|
SFR
| 24743 Calle Altamira
| 4
| 3
| 2
| 2 A
| 2,681
| 1989
| $1,100,000
| 147
|
SFR
| 3752 Camino Codorniz
| 5
| 5
| 2
| 3
| 3,307
| 1989
| $1,485,000
| 113
|
SFR
| 4500 Park Serena
| 4
| 4.5
| 2
| 2 A
| 3,981
| 1980
| $1,501,500
| 32
|
SFR
| 23278 Park Basilico
| 5
| 4.5
| 2
| 3 A
| 3,788
| 1989
| $1,510,000
| 128
|
SFR
| 5851 SLOAN PL
| 5
| 4.5
| 2
| 3 A
| 4,597
| 1996
| $1,950,000
| 304
|
SFR
| 25551 Prado De Las Flores
| 5
| 5.5
| 1
| 2 A
| 5,296
| 2005
| $2,940,000
| 150
|
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