Now that we are headed towards the holidays I thought it was time to review home prices here in Chatsworth.
Traditionally, this is a slow time for real estate sales. But the times we find ourselves in are not traditional so it wouldn’t be surprising if this holiday season real estate activity breaks with tradition. From a purely personal point of view it doesn’t look it will be for me and my partner. We have one transaction in escrow, will soon be in escrow on another, possibly making a deal on a third, and have just taken a new listing. My office has a total of 50 listings as this blog is being written. So lot of things seem to be happening.
Another thought for you buyers. The holiday season is a time when sellers might be willing to lower their prices a bit. Sellers who absolutely need to sell their home before the first of the year know that this is a traditionally slow time in real estate and,therefore, may be willing to compromise on their price a little more than they normally would. So buyers, now is the time to be truly active.
Just so you know interest rates are hovering around 3.85%. No, I've not been smoking any funny cigarettes. My partner and I have represent an adorable couple buying their first home who just entered escrow for a 30 year fixed loan with a locked in interest rate of 3.85%
That said, what is happening in Chatsworth real estate-wise? Glad you asked. I just happen to have some numbers.
Today in Chatsworth there are exactly 125 homes for sale. Of those, 94 are single family residences, 19 are condominiums, and 12 are townhomes. Prices for the single family homes range from $195,000 to $3,295,000. The median price is $519,900.
The corresponding numbers for condominiums are also interesting. The asking price ranges from $169,500 to $435,955. The medium price for condo up for sale i$249,000.
Now for townhomes.... the listing price ranges from $199,000 to $299,000. The median price range is $225,500.
Now let’s take a look at similar numbers for homes that actually closed escrow in October. Twenty nine homes closed escrow during the month of October. Of those 29, 17 were single family residences, six were condominiums, and six were townhomes.
The prices for single family homes that closed ranged from $299,000 to $615,000. The median price was $395,000.
The prices of the six condominiums that sold last month ranged from $132,500 to $329,000. The median price for a condo was $215,000.
To buy a townhome that closed last month you had to pay between $205,000 and $299,000. The median price townhome was $225,000.
Just so you know, these figures came directly the California Real Estate Multiple Listing Service and its accuracy on the people who punch in the numbers, not me.
Okay, now go out there and have a great Thanksgiving!!