Homes Prices in Agoura Hills CA May 2014
Real Estate Market Home Prices in Agoura Hills, CA for May 2014 provided by Jay & Michelle Lieberman at Keller Williams Westlake Village.
Agoura Hills CA Home Pricing Trends
The housing market in Agoura Hills CA for May 2014 shows signs of a really interesting phenomenon going on. We are seeing homes come on the market at higher prices than the last couple months as people have seen the sold listings during January through March as finally getting the homeowners some equity out of the home. Additionally, we continue to see a large lack of inventory, which one would think would keep prices on the higher end. However, when you would expect the absorption of these listed home to occur, we are seeing the opposite. We are seeing a lot of buyers that are "toe-dipping", shopping around slower and have a general lack of motivation to compete on a purchase of a home.
A lot of agents have their theory. We believe that it is very complicated and tied less to the traditional issues of obtaining a loan or coming up with the down payment. It seems to be more tied towards perception of the market, the economy as a whole, Obamacare's effect this and next year, and the like. Additionally, buyers are looking for value. Not renovation projects, but value of move in ready homes. This is causing a slight stagnation in the market right now. We think it will work itself out during the summer months as the priorities change a bit towards families getting into a home before school start in late August.
The number of listings are up to 92 total listings, from 79 in April. Interesting to note that the total single family home listings in Agoura Hills CA as of end of May 2014 at 92 active homes for sale, representing only 0.97% of the entire single family housing inventory of the City, which is a slight increase from last month.
Agoura Hills CA Real Estate Report Summary
The median listing price for homes in Agoura Hills CA for May 2014 decreased about 7% from April, from $1,506,390 to $1,400,660 in May as folks are trying to find that price sweet spot in this oddly functioning market. The median price per foot decreased about 2.6% from $453 to $441.
Significantly all are standard non-distressed sales, with only 8.9% being either short sale or lender owned sales, which number continues to dwindle month after month as these distressed sales become less of an issue in this market. The median days on market has started to rise a bit for the reasons stated above, from 45 days in April to 53 days in May, but still significantly shorter than the national average. Owner-occupied homes comprise over 73.69% of the Agoura Hills CA housing market. Median household income for the median aged 42 year old Agoura Hills resident is $109,056 per year, with 39% married, over 40% having children living in the home, and 81.27% of them with at some college or above education.
The schools in and around Agoura Hills CA continue to be the top rated schools in the State with numerous awards, accolades and massive continued parental involvement.
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