Simi Valley, CA 93063 Market Research Report

Date: Wednesday, December 18, 2024

Overview of Current Market Conditions

Condos

• Median List Price: $1,015,000
• Market Action Index (MAI): 49 (Strong Seller's Market)
• Change from Last Month: MAI increased from 48 to 49, indicating a slight strengthening of the Seller’s Market.
• Inventory: Decreased to 45 units.

Houses

• No data available for houses this week.

Market Action Index (MAI)

The Market Action Index measures the balance of sales versus inventory:

• Current MAI: 49
• Buyer’s Market Range: 0–30
• Seller’s Market Range: 30+
  The market remains a Strong Seller's Market, driven by low inventory and stable demand.

Key Insight:

With inventory at a low level, watch for shifts in the MAI. If it rises, prices may climb further.

Real-Time Market Profile

MetricValue

Median List Price$1,015,000

Median Price of New Listings $875,000

Price per Square Foot

$471

Average Days on Market

75

Median Days on Market

49

Price Decreased

31%

Price Increased

0%

Relisted

4%

Inventory

45

Median Rent$3,800

Market Narrative

The Simi Valley market has reached a relative balance between sales and inventory. However, inventory levels remain low enough to sustain a Seller’s Market. If demand increases or inventory decreases further, prices are likely to rise.

Market Segments

Below is a breakdown of the market by price segment:

Key Takeaway:

Higher-priced segments show slower absorption rates, while lower-priced segments are moving faster, evidenced by shorter days on market (DOM).

Conclusion

The Simi Valley condo market continues to favor sellers due to low inventory and steady demand. Buyers should act quickly in lower-priced segments where competition is higher. Sellers can capitalize on the strong market conditions by pricing competitively and leveraging the low inventory.

Stay Informed

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