Calabasas Real Estate Sales Numbers for August - Great Time to Buy

There are approximately 250 homes on the market in Calabasas as I write this article (about 100 more than were on the market the same time last year). Thirty two homes closed escrow in August with an average days on the market of 64, compared to 46 days on the market in August 2006.

If you take a look at the MLS right now, many of the homes for sale have been on the market for 100 days and some even more. There were very few price reductions on the homes that did sell. These 32 homes sold at 95.10% of their list price. This is very important information. The translation here is that it is criticl to price your home right from the very first day that it is listed. If the price is too high on day one, you will end up lowering the price and chase the market down, or the house will not sell at all.

This is great news for buyers right now. Interest rates are extremely low and there is a huge selection of homes to choose from. Many of the houses on the market have been sitting for months and there may be room to negotiate the price depending on the seller's motivation to sell. Not every house that is listed right now is actually listed by a motivated seller so be prepared to submit several offers until you find a seller that is motivated.

The trick is to determine which seller wants to sell their home and who is just sticking their toe in the waters. I scrub the MLS with the NOD (notice of default) list weekly to see which homeowners may be having difficulty paying their mortgage payments. If you are a serious buyer looking to buy a home in Calabasas, please call or email me for more information.

If you live in Calabasas now, and would like to move up, now is the time. If you've always wanted to live in Calabasas, this is the perfect opportunity to make the move. Please call me and we'll work out the numbers together.

Now is a great time to buy a home in Calabasas.