August 2022 Real Estate Activity

The Southern California housing market continues to cool off,  the area median home prices fell slightly and home sales slowed down. Nevertheless, there is a still a great demand for housing and if the interest rates level off, the home sales may pick up again soon. In Calabasas, West Hills and Woodland Hills the Sale to List Price fell below 100% for the first time in many months. This means that some lucky buyers were able to get a deal and buy their homes below asking price. With rising interest rates, there were fewer buyers making offers therefore affecting the final closing price. Homes also stayed on the market over 40 days, which is about 2 weeks longer than in the earlier months of 2022.

Here is a real estate summary for Calabasas, West Hills and Woodland Hills.

West Hills
Median Price Sold: $1,039,000  (+$0)
Sale to List Price: 99%
Median days on the Market: 44 Days

Calabasas
Median Price Sold: $1,612,000   (-$500)
Sale to List Price: 97%
Median days on the Market: 40 Days

Woodland Hills
Median Price Sold: $1,189,500  (-$69,500)
Sale to List Price: 99%
Median days on the Market: 44 Days