Higher prices, increased inventory of homes for sale in the Conejo Valley, Simi Valley, Moorpark areas

Higher prices, increased inventory of homes for sale in the Conejo Valley, Simi Valley, Moorpark areas

In November, the residential real estate market in the Conejo Valley, Simi Valley and Moorpark areas saw higher prices, fewer closed sales, fewer new listings and increased inventory compared to last year.

“Demand for homes remains strong in our market area,” said Barbara Radke, 2022 Board President for the Conejo Simi Moorpark Association of REALTORS® (CSMAR). “Homes are selling in just over a month, and sellers are receiving nearly 100% of their list price. Prices continue to rise, and we saw fewer new listings in November. While the months supply of inventory increased last month, it’s still in sellers’ market territory. The decreases in homes sold and new listings is typical for this time of year, and our market remains strong overall.”

Median sales prices increased 3.7% compared to last November, from $842,500 to $874,000. The number of closed sales dropped 53.5%, from 432 to 201. The median number of days to contract increased 38.5%, from 26 days to 36 days. The average percent of list price received decreased 3.6%, from 101.6% to 97.9%. The median price per square foot of homes sold in November increased 3.9% compared to last year, from $467 to $485.

The number of new listings decreased 12.9%, from 310 to 270. The active inventory of available homes increased 39.7% from 395 to 552. The months supply of inventory, which is an estimation of the time it would take for all homes on the market to be sold, jumped 200.3% from 0.9 to 2.7. A months supply of inventory of less than five months is typically considered a seller’s market.

  • Median Sales Price: +3.7%
    • November 2022: $874,000
    • November 2021: $842,500
  • Closed Sales: -53.5%
    • November 2022: 201
    • November 2021: 432
  • Median Days to Contract: +38.5%
    • November 2022: 36
    • November 2021: 26
  • Percent of List Price Received: -3.6%
    • November 2022: 97.9%
    • November 2021: 101.6%
  • Median Sold Price Per Square Foot: +3.9%
    • November 2022: $485
    • November 2021: $467
  • New Listings: -12.9%
    • November 2022: 270
    • November 2021: 310
  • Active Inventory: +39.7%
    • November 2022: 552
    • November 2021: 395
  • Months Supply of Inventory: +199.8%
    • November 2022: 2.7
    • November 2021: 0.9