I was happy to see a smaller home in Mulwood, Calabasas go into escrow this last week at a list price that was over $1,000,000. There have been a number of listings sitting on the market that were either in poor condition or testing the upper limits of pricing. As the Calabasas real estate market gains velocity during the prime selling season this sale shows that the market will rise to the price if the inventory is constrained enough. There is still a shortage of excellent homes on the market and something in very nice condition will certainly move quickly and at very strong prices. There is a general lack of inventory across the board with little exception. We have clients pursuing homes in the Oaks, Calabasas Hills Estates and Mulholland Heights and the current inventory in all three areas is limited.
