Homes Prices in Agoura Hills CA for June 2014

Real Estate Market Home Prices in Agoura Hills, CA for June 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 June 2014 continues to show signs of a massive lack of inventory but also an odd lack of motivated buyers.  Homes that do go under contracts are falling out of escrow in greater number than has been seen in years.  Buyers are offering on multiple homes are the same time when such practice has been frowned upon in the past.  INTERESTING STATISTIC:  Agoura Hills has a total housing inventory of approximatley 9,503 homes.  There are currently 98 homes on the market for sale in Agoura Hills.  This equates to just over 1% of the inventory for sale.  A good healthy market normally would see between 3% to 5% of an inventory moving.  This normally would be the cause of a huge sellers market, but the lack of motivated buyers, even in the middle of the Summer selling season, has created a odd phenomenon and properties are sitting on the market longer than they have and prices are starting to drop a bit.

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 as the priorities change a bit towards families getting into a home before school start in late August.

The number of listings are up just a bit from 92 to 98 from May to June 2014.  Interesting to note that the total single family home (excluding condos and townhomes) listings in Agoura Hills CA as of end of June 2014 was 80 active homes for sale, representing only 0.85% of the entire single family housing inventory of the City, which is a slight decrease from last month. 

Agoura Hills CA Real Estate Report Summary

The median listing price for homes in Agoura Hills CA for June 2014 increased only 2.17% from May, from $1,400,660 to $1,431,080 as folks are trying to find that price sweet spot in this oddly functioning market. The median price per foot however increased 7.5% from $441 to $474, which shows sellers attempts to join a market which they believe is still increasing in market value when in effect it is fairly stagnant on pricing.

Significantly all are standard non-distressed sales, with only 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 remained stable overall at 50 days, 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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Home Prices in Agoura Hills CA for June 2014