Home Prices in Oak Park CA for October 2013
Real Estate Market Home Prices in Oak Park CA for October 2013 provided by Jay & Michelle Lieberman at Keller Williams Westlake Village CA.
Oak Park CA Home Pricing Trends
The housing market in Oak Park CA for October 2013 shows a slight decrease in the amount of listings, going from 33 to 31. We expect that number to decrease a bit more as we are now in the fall and winter months. Interesting to note that the total single family home listings in Oak Park CA right now at 31 active represents only 0.85% of the entire single family housing inventory of the City. 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. Even with lower inventory, lower demand and recent increases in interest rates, we believe pricing will remain strong. These factors will partially equalize themselves keeping current pricing very relevant.
Oak Park CA Real Estate Report Summary
The median listing price for homes in Oak Park CA for October 2013 has decreased slightly by 1.2% from $835,270 in September to $825,160 in October, or about $358 per square foot. Significantly all are standard non-distressed sales, with only 14.0% being either short sale or lender owned sales. down 3.4% from last month, which has been decreasing month over month. The median days on market is down by 4 days to average 42 days on market, which is significantly shorter than the national average and the surrounding communities. Owner-occupied homes comprise over 71.22% of the Oak Park CA housing market. Median household income for the median aged 41 year old Oak Park resident is $124,979 per year, with 41% married, over 48% having children living in the home, and 86.82% of them with at some college or above education.
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