Demand in the Conejo, Simi, and Moorpark area real estate market remained high in October, with homes spending significantly less time on the market compared to last year. October also saw a bump in new listings.
“We continue to see strong demand for homes in our market,” said Tim McDougall, 2023 Board President for the Conejo Simi Moorpark Association of REALTORS® (CSMAR). “While fewer homes were sold in October compared to last year, more new homes hit the market this year. We also saw quick sales, with sellers receiving their full asking price on average. The bottom line is that our demand remains strong, and we’re still in a seller’s market.”
Median sales prices saw no year-over-year changes in October, remaining at $877,500. The number of closed sales dropped 18%, from 278 to 228. The median number of days to contract saw a significant 37.5% drop, from 40 to 25. The average percent of list price received increased 1.9%, from 98.4% to 100.3%. The median price per square foot for homes sold in October increased 6.9%, from $470 to $502. The number of new listings increased 12% from 292 to 327. The active inventory of available homes decreased 27.8%, from 607 to 438. The months supply of inventory, which is an estimation of the time it would take to sell off the current level of inventory, decreased 12%, from 2.2 to 1.9. A months supply of inventory below five months is typically considered a seller’s market.
Median Sales Price: 0%
October 2023: $877,500
October 2022: $877,500
Closed Sales: -18%
October 2023: 228
October 2022: 278
Median Days to Contract: -37.5%
October 2023: 25
October 2022: 40
Percent of List Price Received: +1.9%
October 2023: 100.3%
October 2022: 98.4%
Median Sold Price Per Square Foot: +6.9%
October 2023: $502
October 2022: $470
New Listings: +12%
October 2023: 327
October 2022: 292
Active Inventory: -27.8%
October 2023: 438
October 2022: 607
Months Supply of Inventory: -12%
October 2023: 1.9
October 2022: 2.2
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