Conejo Valley Real Estate Update – March 2024

Published On: March 7, 2024118 words0.6 min read

Local inventory remains near all-time lows, I could find only 188 homes and condos for sale in the Conejo. I found only 60 listings for less than $1ml., only 10 of which were single-family homes. 25 of the 188 were listed for more than $3ml. Demand continues to exceed supply with average listing times near 30 days. Renovated homes continue to sell quickly with multiple offers, with 5% to 10% premiums over non-renovated homes. Median sales prices range between $1,050,000 to $1,300,000 locally… all moving up. The number of transactions remains low due to 7% mortgage rates, and move-up seller / buyers are endangered species due to low inventory. Many of my recent sales were relocating to other States: Arizona, Tennessee, Texas and Idaho remain popular… Las Vegas less so.

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