The residential real estate market in the Conejo, Simi and Moorpark areas told a familiar story in December, with tight inventory, higher prices, homes selling quickly and sellers receiving nearly all of their asking price. The market closed out 2023 in a dominant seller's market.
Median sales prices saw a 12.89 increase in December, from $820,000 to $925,000. The number of closed sales dropped 14.3%, from 217 to 186. The median number of days to contract saw a large 15.9% drop, from 44 to 37. The average percent of list price received increased 1.1%, from 98.1% to 99.1%. The median price per square foot for homes sold in December increased 5.4%, from $477 to $503. The number of new listings decreased 17.8% from 174 to 143. The active inventory of available homes decreased 22.2%, from 442 to 344. The months supply of inventory, which is an estimation of the time it would take to sell off the current level of inventory, decreased 9.2%, from 2.0 months to 1.8 months. A months supply of inventory below five months is typically considered a seller’s market.
The market typically slows down around the holidays so this was expected.
Median Sales Price: +12.8%
December 2023: $925,000
December 2022: $820,000
Closed Sales: -4.5%
December 2023: 193
December 2022: 202
Median Days to Contract: -15.9%
December 2023: 37
December 2022: 44
Percent of List Price Received: +1.1%
December 2023: 99.1
December 2022: 98.1
Median Sold Price Per Square Foot: +5.5%
December 2023: $503
December 2022: $477
New Listings: -17.8%
December 2023: 143
December 2022: 174
Active Inventory: -22.2%
December 2023: 344
December 2022: 442
Months Supply of Inventory: -9.2%
December 2023: 1.8
December 2022: 2.0