The Current Real Estate Market in Simi Valley, CA
The city of Simi Valley is located in the southeast corner of Ventura County, California, United States. Situated 30 miles from downtown Los Angeles, Simi Valley is part of the Greater Los Angeles Area. The city is near Thousand Oaks, Moorpark, and the neighboring city of Chatsworth. Providing a backdrop for the city is the Santa Susana Mountain range and the Simi Hills, west of the San Fernando Valley, and northeast of the Conejo Valley. Let’s take a look at market trends for this highly coveted real estate which is a commuter community feeding the larger cities in Ventura County. There are 27 cities in Ventura County.
Housing Market Trends in Simi Valley, CA
In November 2020, the median list price of homes in Simi Valley, CA was $650K, trending up 6.6% year-over-year. The median listing price per square foot was $365. The median sale price was $665K. The sale to list ratio in this market is currently 100.69% which means that it is a seller’s market. What this translates to is that in November 2020, there were more people looking to buy than there were homes available. Keep in mind however, that the conditions in which to buy a home are still very favorable for buyers given the low interest rates that still prevail across the country. Additionally, homes in Simi Valley, CA sell after 50 days on the market on average. This trend for median days on market in Simi Valley, CA has been steady since last October is down only slightly since last year.
Simi Valley Housing Market Projections 2020 to 2021
The Simi Valley real estate market is expected to improve over the next few years as it has for the past three years. The median list price of properties in Simi Valley, as mentioned above, hovers around $610,000. This trend is likely to continue for the next three to five years. This prediction is based on the Simi Valley Housing Market Projections 2020 and also various local factors.
Of course, finding the perfect new home to live in is about more than simply desiring to do so. It very much depends on engaging the right real estate professional to help guide you through the process. We would love to help you find the perfect home in the right neighborhood for your family. As one of the top Simi Valley real estate team we would love to help educate you on the market.