June saw more of the same in the Conejo Valley, Simi Valley and Moorpark areas, with quick sales and homes selling above list price thanks to strong demand and a tight inventory of available homes.
“Thanks to continued strong demand for homes in our market, these reports are starting to sound like a broken record,” said Tim McDougall, 2023 Board President for the Conejo Simi Moorpark Association of REALTORS® (CSMAR). “In June we once again saw home selling quickly and for more than list price on average. The fact that fewer homes were sold is a result of tight inventory, not a reflection of demand. All indicators point to our market remaining in seller’s market territory throughout the summer.”
Median sales prices increased 6.6% in June, from $930,000 to $991,500. The number of closed sales fell 25.7%, from 404 to 300. The median number of days to contract increased 4.5%, from 22 to 23 days. The average percent of list price received decreased 1.8%, from 102.8% to 100.9%. The median price per square foot of homes sold in June decreased 3.2%, from $524 to $507. The number of new listings dropped 27.8%, from 550 to 398. The active inventory of available homes decreased 30.7%, from 652 to 454. The months supply of inventory, which is an estimation of the time it would take to sell off the current level of inventory, decreased 6.5%, from 1.6 to 1.5. A months supply of inventory below five months is typically considered a seller’s market.
Median Sales Price: +6.6%
June 2023: $991,500
June 2022: $930,000
Closed Sales: -25.7%
June 2023: 300
June 2022: 404
Median Days to Contract: +4.5%
June 2023: 23
June 2022: 22
Percent of List Price Received: -1.8%
June 2023: 100.9%
June 2022: 102.8%
Median Sold Price Per Square Foot: -3.2%
June 2023: $507
June 2022: $524
New Listings: -27.8%
June 2023: 398
June 2022: 550
Active Inventory: -30.7%
June 2023: 454
June 2022: 652
Months Supply of Inventory: -6.5%
June 2023: 1.5
June 2022: 1.6
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