Looking to the Condo and Town-home worlds in the SCV cities - here is the most recent data and dissertation related to that data.
Canyon Country CA condos and town-homes:
This week we see a flat trend with regard to Canyon Country prices leveling off at $232,000.00.
We also see that the local market has been cooling over time and that the prices have recently flattened. Despite the consistent decrease in Market Action Index (the MAI), we are still in a sellers real estate market.
Canyon Country CA single family residences:
This week we see that the median listing prices are down in Canyon Country CA - lowering to $429,700.00.
The Canyon Country real estate market has been cooling off a bit in recent weeks, as more homes are available and demand is less that we have been experiencing. We are already seeing prices move lower as a result. Expect this trend to continue especially if the index calls into the Buyers Zone. Watch for persistent up-turn in Market Action to signal prices rising again.
Castaic CA Single Family Homes:
This week in Castaic CA real estate, we have a rise in median listing prices, this week over last week, rising to $519,450.00.
Market conditions in Castaic CA have been consistently cooling in the past several weeks. Because we are still in the sellers zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the buyers zone.
Newhall CA Condos and Town-homes:
The median listing price in Newhall CA real estate for the condos and town homes has flattened out at $235,000.00
The Newhall CA condo and town home market has been cooling over time and prices have recently flattened out as a result. Despite the consistent decrease in the Market Action Index, we are in a sellers market. Meaning, significant demand is leaving little inventory available. If the Market Action index begins to climb, then prices will follow. If the market action index drops consistently, we will see prices reflect more of a downward price trend.