Scary Spring 2019 Real Estate Market Update – Simi Moorpark Conejo

Scary Spring 2019 Real Estate Market Update – Simi Moorpark Conejo


– As you look at the real
estate market right now you’re probably thinking, – What’s happening!? – I’m here to help. (pulsating music) – I’m Trevor Jones with
Jones Home Collective and I have lived within
a few miles of this. The Poltergeist house, for most of my life and I wouldn’t dream of living anywhere else. Unless of course my kids all decided to congregate in one state
in which case I’d live there. – Hello! – The housing market’s
been shifting for a bit and if you’re thinking
of buying or selling, it can be a little bit scary. So let’s just look at a few quick facts and see what’s actually happening as I stand in front of the
actual Poltergeist house, that’s where that first
Poltergeist movie was filmed and I’m a little freaked
out, it’s super quiet. – They’re here! – In our market, Simi
Moorpark in the Conejo Valley inventory is up 25% from
this time last year. We’ve got like 962 homes
on the market right now. (children screaming) Months of inventory is up
40% from this time last year. We have 2.4 months of
inventory on the market, that means that if no more
houses were listed in 2.4 months, there’d be nothing left because you know. (screaming and loud wind) Remember a stable market
is six months of inventory, so we are still very much
in a seller’s market. So the market is slowing down
but is it actually declining? (splashing) The median price for a home
sold on our market right now is about $678,000. That’s up 2.7% from this time last year. So, prices are still
going up it looks like. 30 year fixed mortgage rates
are near a 14 month low and– – One 1000 two 1000 three one– – 4.14%. So where are rates going? Well they originally predicted
at the beginning of the year that they’d be in the fives
by the end of the year, but they’re saying they’ll
probably hit around 4.6%. (glass smashing) (child screaming) – So why have rates slowed? Well originally the fed was planning on raising rates this year, but in March when they met they said “nope, we’re probably
not gonna raise rates the rest of the year.” Another reason is investors
are worried about Brexit, if the UK has a recession
they’re afraid it may spread. And finally inflation has chilled which is a good thing for rates. So what does this mean exactly for you? Well if you’re looking to
buy it’s a pretty great time because rates and prices
are still pretty low. And there’s more homes on the market now than there were this time last year so you got more to choose from. And if you’re looking to sell, even though we do have
more homes on the market than this time last year, we’re still in a seller’s market. Your situation of course is unique. If you’re even thinking
about buying or selling you wanna hit me up because you don’t wanna
get into the wrong house. (sinister music) (water bubbling) (explosion) (screaming)

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