Calabasas Real Estate Market update for October 2022
Calabasas has been a very hot real estate market over the past several years. The city’s luxury properties, often hidden behind private gates have attracted celebrities, professional athletes and notable people to move here from the West Side, Bel Air and Beverly Hills.
With interest rates rising over the past couple of months, now reaching 7.1% for a 30-year fixed rate, the Median Sold price in Calabasas fell from $1,612,000 to $1,412,500. Sale-to-List price remained at 98%, meaning that the buyers were able to purchase their homes in Calabasas for a little less than list price. Being that prices in Calabasas, still remained higher than most of the surrounding cities in San Fernando Valley, homes stayed on the market for 100 days, which is about 3 times as long as in West Hills and Woodland Hills. Only 18 homes sold in October and 25 new homes came on the market.