Calabasas Sellers & Buyers!

This is a paid post contributed by a Patch Community Partner. The views expressed in this post are the author's own, and the information presented has not been verified by Patch.

According to a recent article published by patch.com, the median sale price of single-family homes has increased significantly in the 91302 zip code this past year. When we look back at the year to date stats, homes in our local 91302 zip code were listed on the market for a median of only 13 days! That means that many homes accepted an offer in just under two weeks, which indicates that the wheels in this red hot real estate market keep turning at a quick speed.

On a national level, the median sale price for single-family homes was 1.5 percent higher in October 2021 compared with the price in the last three weeks of September 2021, according to redfin.com. Median home sale prices were 13 percent higher than those in October 2020 and 30 percent higher than those in October 2019. Zooming in on our local 91302 real estate market, the median sale price was $1,962,500 compared to $1,803,750 in October 2020 and $1,510,000 in October 2019. Home prices continue to appreciate into the end of 2021.

Helping with the surge in sales are upward trending mortgage rates since August 2021, encouraging prospective buyers to make a purchase before rates climb further.

"Fear of missing out (FOMO) is always a powerful force in this supply-constrained housing market, but especially so today for buyers who weren't able to snag a home last year before mortgage payments shot up by 15 percent," Redfin Chief Economist Daryl Fairweather said in a news release. "With this renewed FOMO, the housing market is heating up from the slight lull a few months ago.

While the last two years were perhaps the least predictable in housing history due to the pandemic, we anticipate that 2022 will continue to bring record sales, higher home prices and shorter than average days on market. If you're looking to sell, don't hesitate to take advantage of this record market. Give me a call today to discuss your home value and how I can help you net the most profit on your home sale! 818-970-2946.

Check Your Home Value Here: davidwatkins.com/home-value

Read My Reviews Here: davidwatkins.com/testimonials

Written by David Watkins Office

This is a paid post contributed by a Community Partner, a local brand partner. To learn more, click here.