Thousand Oaks Market Update - July 2013
- Active Listings ------- 150 (-5)
- Contingent ----------- 60 (+12)
- Pending -------------- 38 (-22)
- Sold (past 30 days) - 75 (-12)
- Short Sales ----------- 3 (+1)
- Forclosures ----------- 1 (+1)
The real estate market in Thousand Oaks continues to remain strong in the month of July. Homes are staying on the market a bit longer and we have seen more price reductions this month. While the market is still active, it appears that it is leveling out at this time. This is largely due to rising interest rates.
Due to rising interest rates, home are becoming less affordable. With less purchasing power, we are beginning to see buyers getting priced out of the market. The result of this is that the demand for entry-level homes is increasing while the demand for higher value homes is decreasing, leading to a two-tier market. Homes around $600,000 and higher are only available to a shrinking number of buyers and are therefore harder to sell.
If you are looking to buy or sell your home, now really is the time to make a move. It's a good idea to get into the market before rising interest rates force you to settle for less. As always, we are here to help in any way we can.
Give us a call at (818) 970-8773 or visit our website at www.MarkMoskowitzTeam.com, and see how The Mark Moskowitz Team can help you with any of your real estate needs.
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