Oh my! It’s 106 Degrees in Woodland Hills this week. The summer is heating up. The word on the street has been nothing but positive about the super spring real estate market and how property is flying off the shelves. Summer is a tricky time to sell however and those of us selling real estate every day are keenly aware of micro trends, market blips, peaks and valleys. There are many seasonal factors that only very active agents are likely to recognize, analyze and capitalize on. In Calabasas we recently received a call from a potential client who is seeking our advice after having their home listed for nearly 1 year with no success. In such a “Hot” market the sale should have been easy, no? Not necessarily. Hot market does not mean everything sells, no matter what.
Just as the Woodland Hills, West Hills and Calabasas Real Estate markets are very unique there are also different market segments to consider. Price point is an important factor in every market. Homes at the $800,000 may all sell in multiple offers while proportionately larger homes in the $1.2M range linger on the market. Each market, neighborhood and price point can have different levels of activity from buyers. Often we see homeowners who attempt to list “by owner” or through a low service company who have very disappointing results. This is because they often do not have sufficient knowledge of these micro factors that make every sale unique. The best data you can have relative to selling a home an accurate read of current buyer activity. The only way to be on top of activity is to be very active in the market and experiencing it every day.
Will Calabasas real estate stay hot through the summer? That is the big question. Typically markets cool as the school year approaches but each year is different. Understanding what the market is doing today is the most crucial information for predicting the summer, the season, the year, or years to come. As for now we see high prices, low inventory and what continues to be a hot market for home sellers in general. As for buyers, you still need to dig deep to find the perfect properties and have offers accepted.
If you would like to discuss this post further you can reach Aaron Scott at: here