Calabasas real estate market update for June 2023

With mortgage interest rates of about 6.8% in June 2023, home sales slowed down in Calabasas, CA, however the median sold price went up by 12.5%. Nevertheless, many buyers no longer qualify for loans to be able to afford homes they budgeted for at the beginning of the year. Since rates almost doubled since late 2022 and house prices have not fallen, homes now stay on the market a little longer. Also, there are fewer homes  on the market since most people are not so eager to move and give up their low interest mortgages.

Here are some real estate market numbers for Calabasas, CA in June 2023

Calabasas Median Sold Price: $1,840,000 (-$205,000)
Calabasas Median New Price: $2,199,000
Calabasas Active Median Price: $3,924,500 (-$949,501)

Calabasas Sale to List Price: 98.8%

Calabasas Median days on Site: 54 (+24)

Calabasas June Inventory: 27 sold,  Active 50

If you are interested in buying or selling your home in Calabasas, contact your expert Calabasas Realtor David Salmanson at 818-421-2170