Agoura Hills Market Update - July 2013
The market continues to remain strong in Agoura Hills. Buyers now have a little more time to find their home than in the previous few months. Homes are sitting on the market longer and we are seeing more price reductions in recent weeks. The market is still improving, but it is no longer the torrid we have seen over the first half of the year. Rising interest rates have caused the pace of the market to slow down, and thus prices are leveling out. The conditions of the market are 'normalizing' in this way. Homes that are priced well will sell, while homes priced too agressively are likely to stay on the market without offers.
We are also seeing that, due to rising prices and interest rates, homes are becoming less affordable. With less buying power, some buyer's are being priced out of the market. We are seeing this develop into a two-tier market. While entry-level homes are still in high demand and sell very quickly, homes around $600,000 and higher must be priced competitively. This means that buyers who looking for a home below the 600's will need to make competitive and timely offers to stay relevent in this section of the market.
If you are looking to buy or sell your home, now really is the time to make a move. Rising prices and interest rates indicate that we will see many buyers being priced out of the market in the near future. If you are thinking of making a move, it is important to get into the market as soon as possible and get the best value for your new home. We are here to help!
Give us a call at (818) 970-8773 or visit our wesite at www.MarkMoskowitzTeam.com, and see how The Mark Moskowitz Team can help you with any of your real estate needs.