Inventory increases, home sales slow in Conejo Valley, Simi Valley, Moorpark areas

posted by Category: consumers news

Real estate activity in the Conejo Valley, Simi Valley and Moorpark areas slowed in December with slightly lower prices, fewer homes sold and fewer new listings compared to December 2021. Despite slower activity, the market remains strong and in seller’s market territory.

“It’s common for the pace of real estate activity to slow during winter, and  our market remains in strong shape overall,” said Tim McDougall, 2023 Board President for the Conejo Simi Moorpark Association of REALTORS® (CSMAR). “Prices remain high, homes are spending a little over a month on the market, and our market remains in seller’s territory even as inventory increases.”

Median sales price decreased 3.5% compared to December 2021, from $849,500 to $820,000. The number of closed sales dropped 42.8%, from 376 to 215. The median number of days to contract increased 65.4%, from 26 to 43 days. The average percent of list price received decreased 3.6%, from 101.8% to 98.2%. The median price per square foot of homes sold in December increased 1.5% compared to 2021, from $470 to $477.

The number of new listings in December decreased 13.1%, from 221 to 192. The active inventory of available homes increased 48.8% from 281 to 418. 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 160.1% from 0.7 to 1.9. A months supply of inventory of less than five months is typically considered a seller’s market.

  • Median Sales Price: -3.5%
    • December 2022: $820,000
    • December 2021: $849,500
  • Closed Sales: -42.8%
    • December 2022: 215
    • December 2021: 376
  • Median Days to Contract: +65.4%
    • December 2022: 43
    • December 2021: 26
  • Percent of List Price Received: -3.6%
    • December 2022: 98.2%
    • December 2021: 101.8%
  • Median Sold Price Per Square Foot: +1.5%
    • December 2022: $477
    • December 2021: $470
  • New Listings: -13.1%
    • December 2022: 192
    • December 2021: 221
  • Active Inventory: +48.8%
    • December 2022: 418
    • December 2021: 281
  • Months Supply of Inventory: +160.1%
    • December 2022: 1.9
    • December 2021: 0.7