CALABASAS CA HOMES FOR SALE
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David Watkins is a professional committed to providing excellent service to his clients, colleagues and Featured Calabasas Communities. David Watkins incorporates various methods that specialize in the marketing, listing, and sale of Calabasas Homes for Sale. David aims to provide knowledge and sound advice regarding the ever-changing real estate market, so that his clients are not merely bystanders, but active participants involved in the sale or purchase of their home. He ambitiously implements new ideals and explores new avenues of technology to make the selling and buying of real estate faster, easier and more efficient.
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Calabasas Real Estate Newspaper – July 2017
2017 Offers Much-Needed Stability in the
Calabasas Real Estate Market
by David Watkins
In contrast to the last several years, the Calabasas home market predictions suggest something unusual might have come our way: stability. Home prices will rise very little, home sales will hardly change at all, and mortgage rates will increase by an insignificant number. If you’re looking for a breather in this fast-paced market, the rest of 2017 looks like it will give you some reprieve. Read on for five more indicators the market may have cooled enough for you to buy your next property with added confidence.
Southern California will have approximately the same
home sales numbers as last year
In May 2017, the median home listing price in Calabasas stood at $2,248,000. Compare this number to where it stood two years ago; in May 2015, median home price in Calabasas was $1,886,000, according to Realtor.com. This is a significant increase in the median home price of our area, and while this upward trend seems to be leveling off over the last year, prices are still likely to increase through the summer.
Calabasas home sale prices increased over the last year.
The years following 2015 did not see a significant increase in the number of homes purchased in Southern California. Instead, the increase from 2015 to 2016 in home sales increased by 0.4 percent, and from 2015 to 2017 increased by 0.7 percent.
Mortgage rates will increase by only a small amount over the last year
Mortgage rates hit an all-time low in 2016, at 3.6 percent. While 2017 did see a slight increase in mortgage rates – to 4 percent – these rates are still much lower than we’ve seen in recent history.
Homes have not been purchased at the same lightning-fast rate we’re used to
In March and April, home sales were more sluggish than they’ve been in a while. While realtors around the country note that there are more people coming to see properties, these interested buyers are not translating into more sales. On the West Coast, pending home sales had decreased by 4.2 percent since 2016.
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