|September 13, 2016||No Comments|
Time for our monthly Real Estate Market Update!
For Ventura County, the median price of a home sold last month was $550k, Up 2.8% from the prior month and up 5.8% from last year.
In Simi Valley, the median price was $520k last month, up 1% from July and up 7.2% from a year ago.
In Ventura and LA counties, inventory is down a tiny bit with just over 2 months supply in both places. Here at home in Simi, inventory was down 10.6% to 1.7 months supply.
So… with prices going up and only around a 2 month supply of houses what does that mean? Buyers, sellers or neutral market?… Oh come on… you should know this by now…. Yes! A seller’s market! ding ding ding
You’ll see different stats nationally – what happens here is rarely what happens “on average” across the country. National real estate news has some value, but if you’re staying around here, follow whats going on locally.
What about interest rates? How about 3.37% for a 30 year fixed. we are at or near record lows! The only time it was this good was in the end of 2012. So basically, rates are the lowest they’ve been in the history of earth! what are you waiting for! buy that new house and lock in that rate!
Jones Home Collective
2655 First St Suite 150 Simi Valley CA 93065
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We hope you enjoyed our September 2016 Real Estate Market Update! Keep coming back from more real estate market updates and more awesome content!