Calabasas Real Estate Update for January 2023
Because of the economic uncertainties in 2022, many experts speculate that home prices will start falling in 2023. In Southern California Homes sales fell in January 2023, mainly due to the rising interest rates and home prices remaining high, therefore pricing many home buyers out of the market.
In Calabasas home prices remained high and the market competitive throughout January 2023, suggesting that we are still in the sellers market.
Median Sold Price fall to $1,380,000 from $1,715,000
Sale to List price fell to 96.5% from 97.8%
Homes stayed on the market for about 65 days, moving faster than in December in 71 days.
21 homes sold in comparison to 11 homes sold in December 2022
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