With shorter days, colder weather, and kids back to school, no doubt, S.F. Valley's real estate market is going to slow down in September 2018.
Currently, in Woodland Hills, CA ( according to themls.com), there are 164 homes (SFR) and 55 condos for buyers to choose from. On average, it takes 40 days ( DOM) to negotiate the final terms of the offer for either house or condo. Supply shortage has been an ongoing issue in the California housing market in the last few years but it is changing since there was 7.5 months of housing inventory in August( see the chart below). In August 2018 homeowners listed their 211 homes and 65 condos = the highest number of active properties through 2018 . The lowest inventory this year was in December: only 150 listed houses and 20 condos. Housing prices are still strong.
To review the home sales in Woodland Hills CA:
House Market (Single Family Residences):
- Median Days-On-Market: 45
- Median Sales Price: $850,000
- Average Sales Price /List Price Ratio: 97.87%
- Highest Priced Sold home: $1,850,000
- Lowest Priced Sold home: $590,000
- For Sale: 164 sfr are active and 43 sfr are under contract, 26 are pending
- Median Price/Sq.ft $ for Sold $409
- Months Supply: 7.3
Condo real estate, sold in November 2017:
- Median Sales Price for sold homes: $477,500
- Number of Sales in August: 18 condos
- Average Sales Price /List Price Ratio: 99.78%
- Highest Priced Sold Condo: $590,000
- Lowest Priced Sale: $230,000
- For Sale: 55 condos that were active and 10 condos are under contract, 7 condos are pending
- Median Price/Sq.ft $ for Sold $454 for condos
- Months Supply: 8.1
See all condos for sale in Woodland Hills, CA $0-500k here!( MLS interactive map)
See all condos for sale in Woodland Hills, CA $500k+ here!
See all houses(sfr) for sale in Woodland Hills, CA $0-1mln here!
See all houses(sfr) for sale in Woodland Hills, CA $1mln-2mln here!
See all houses(sfr) for sale in Woodland Hills, CA $2mln+ here!
So there, you have it. The market is slowing down, we see less new listings, but it happens every season around this time, just to pick up again around March. But...who knows what 2019 will bring? If you need to buy or sell now, do you really want to wait that long?
And here is one of the reasons why:
If you’re on the fence between buying and selling, or would like to know how much your Woodland Hills home is worth, give me a call. I keep close tabs on the local market and the national market to make sure all of my clients are well informed, get the very most from the sale of their home and sell at the right time.
If you’re a home-buyer looking to snag a deal before the market heats back up again in February, now’s your time to get started.
Or, if you’re thinking that selling your place might be one of your goals by the end of the year or in 2019, let’s start planning now, so that you’re well prepared. To prepare your home for sale the best, you might need help of a graphic designer, a handyman, contractors, a stagger, a cinematographer or photographer, get to know my transaction coordinator and social media assistant, etc. Together we create a marketing plan for the home, telling its story( using a property history and value, neighborhood appeal, what you love about it, etc.)
Call, text or email me for a specific property report, I'll provide the most accurate information to you fast and free! For more detailed information about the Woodland Hills Real Estate market, or your free no obligation consultation on selling or buying a house, contact me at (310) 867-0698 or inna@barcodeproperties.com.
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