Home Price Trends in Oak Park CA

Real Estate Market Home Price Trends for Oak Park CA for June 2013 provided by Jay & Michelle Lieberman at Coldwell Banker Residential Brokerage in Westlake Village, CA.

Oak Park, CA Home Pricing Trends

The housing market in Oak Park CA remains very tight as continued lack of inventory has lifted pricing up dramatically in the last quarter, which is continuing through the summer months.  Additionally, being that no new homes are allowed to be added in Oak Park per the overall development plan, there is no new construction inventory to ease the buyer demand.  We have seen homes in certain areas of Oak Park rise from $320 a square foot to $350 a square foot in a matter of a few months, with the median list price at $344 a square foot.  As equity begins to fill the coffers of the owners of the homes in Oak Park, as prices continue to increase for lack of supply, we will see a larger increase in inventory through July and August of 2013.

Oak Park Real Estate Report Summary

The median listing price for homes in Oak Park CA for June 2013 is $925,770 or about $344 per square foot.  This has been rising over the last few months as buyer demand during the summer has affected the pricing.  Significantly all are standard non-distressed sales, with only 19% being either short sale or lender owned sales.  The median days on market is 22 days, which is significantly shorter than the national average and the adjoining city of Agoura Hills CA which median days on market is 40.  Owner-occupied homes comprise 79.54% and rental homes comprise 17.82% of the Oak Park CA housing market.

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Home Price Trends in Oak Park CA