Fewer Houses for Sale in Calabasas
January 9th, 2010 Categories: In The News Calabasas
It looks like housing prices may creep up this spring here in Calabasas, CA. There are only 141 homes on the market as I write this blog and another whopping 74 in escrow! If you’re only counting active listings, that’s less than five months of inventory.
In The Oaks at Calabasas there are only 17 homes for sale. You can get a four bedroom, five bath, 4479 square foot mini mansion for $1,599,000 or scoop up a luxurious seven bedroom, nine bath estate with a pool, water slide, guest house, security cameras and more for a cool $12,500,000. In Mountain View Estates off of Mureau Road there are nine houses for sale, all of them over 6,000 square feet, ranging from $1,999,999 to $4,500,000. In Mont Calabasas there are only three homes for sale and 26 in Calabasas Park and Calabasas Hills combined.
If the demand for homes continues to outweigh the supply, prices will certainly start inching up. The graph below shows the housing inventory decreasing almost 40% since the fourth quarter of 2006. The mortgage meltdown occurred in July of 2007 and you’ll notice this is when houses under contract (in escrow) fell sharply.
For more information on Calabasas home sales and prices, please call me at 818-652-2937 or email me at tracey@tracey@traceyrealtor.com.
Supply and Demand Calabasas Number of Units
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