Median sales prices decreased in the Conejo Valley, Simi Valley and Moorpark areas’ real estate market last month compared to April 2022. The inventory of available homes, homes sold and the new listings also declined in April. In spite of this, there were also indications that demand remains strong.
“Homes spent just under a month on the market in April, which is a fairly quick sales cycle,” said Tim McDougall, 2023 Board President for the Conejo Simi Moorpark Association of REALTORS® (CSMAR). “Additionally, sellers are receiving nearly 100% of their list price, and the months supply of inventory indicates that we’re still in a sellers’ market. While some of our stats were down compared to last year, overall our market continues to see strong demand as we move into what is typically our most active selling season.”
Median sales prices decreased 12.7% in April, from $1,010,000 to $882,174. The number of closed sales fell 34.7%, from 389 to 254. The median number of days to contract increased 68.8%, from 16 to 27 days. The average percent of list price received decreased 5.3%, from 105.4% to 99.8%. The median price per square foot of homes sold in April decreased 6.7%, from $507 to $473. The number of new listings decreased 29.7%, from 522 to 367. The active inventory of available homes decreased 3.1%, from 459 to 445. The months supply of inventory, which is an estimation of the time it would take to sell off the current level of inventory, increased 48.8%, from 1.2 to 1.8. A months supply of inventory of less than five months is typically considered a seller’s market.
Median Sales Price: 12.7%
April 2023: $882,174
April 2022: $1,010,000
Closed Sales: -34.7%
April 2023: 254
April 2022: 389
Median Days to Contract: +68.8%
April 2023: 27
April 2022: 16
Percent of List Price Received: -5.3%
April 2023: 99.8%
April 2022: 105.4%
Median Sold Price Per Square Foot: -6.7%
April 2023: $473
April 2022: $507
New Listings: -29.7%
April 2023: 367
April 2022: 522
Active Inventory: -3.1%
April 2023: 445
April 2022: 459
Months Supply of Inventory: +48.8%
April 2023: 1.8
April 2022: 1.2