Hello Fellow Friends and Neighbors,
I hope you all had a Happy Thanksgiving! The month of November was an interesting month for our community. Since the election, the mortgage interest rates have increased almost half a percent which has had some effect on our marketplace. A good effect is that the rise in rates has seemed to move some of the buyers who were on the fence to start looking to purchase now in fear that the rates will move even higher. On the flip side, it has almost knocked out some buyers who are now not qualified to purchase at prices they were approved for before the election. The million dollar question is how is this going to affect us here at the Met Woodland Hills. The rise in rates might put some downward pressure on the rise in our home values, but the current low inventory in the Met Woodland Hills makes the market still slightly a seller’s market. As of today, there’s only 4 active listings at the Met Woodland Hills. I am looking forward to see what some of the units currently in escrow sell for next month to see what effect the rise in interest rates has done to our values. Properties are still moving very quickly in the Met with my listings having a lot of buyer activity.
For November, sales prices were still strong. I was able to help my client sell their 1 bedroom unit for a record price at $315,500. It is the highest sale price for a 1 bedroom since the 2006-2007 market and is approximately $30,000 more than the average 1 bedroom closed sale price for the complex. Please contact me directly for more details. The amount of new inventory coming on the market this month drastically decreased compared to October which is a good thing if you are thinking about selling as less supply equals less competition. Interest rates, while on the rise, are still near historic lows so hopefully buyer activity stays strong. There is great opportunity for those looking to buy or sell. I know of many buyers looking and the low inventory is creating high demand. The information below compares the Real Estate Activity of November 2016 to October 2016 as reported by the Southland Regional Association of Realtors MLS.
I am here to help you! Please feel free to contact me at [email protected] or 818-256-7514 if you have any questions. Happy Holidays!
November 2016 Totals @ The Met Woodland Hills
5 New Listings in November
13 Listings in Escrow in November
9 Listings Closed Escrow in November
October 2016 Totals @ The Met Woodland Hills
10 New Listings in October
9 Listings in Escrow in October
9 Listings Closed Escrow in October
September 2016 Totals @ The Met Woodland Hills
5 New Listings in September
16 Listings in Escrow in September
11 Closed Sales in September
Inventory Level on December 1st @ The Met Woodland Hills:
4 Active Listings
18 Listings in Escrow
November 2016 New Listings @ The Met Woodland Hills
1. 21550 Burbank Blvd, 3rd Floor, 1BR/1BA, 610SF, Listed for $295,500
2. 5520 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Listed for $399,000 (Listed by Kevin McDonald-Click Here for Virtual Tour)
3. 5545 Canoga Ave, 1st Floor, 1BR+Den, 770SF, Listed for $335,000
4. 5530 Owensmouth Ave, 1st Floor, 2BR/2BA, 1,01SF, Listed for $349,950
November 2016 Listings Put in Escrow @ The Met Woodland Hills
1. 5515 Canoga Ave, 2nd Floor, 1BR/1BA, 610SF, Listed for $310,000
2. 21450 Burbank Blvd, 3rd Floor, 1BR+Loft, 760SF, Listed for $315,000
3. 5510 Owensmouth Ave, 3rd Floor, 1BR+Loft, 740SF, Listed for $329,950
4. 5545 Canoga Ave, 1st Floor, 1BR+Den, 770SF, Listed for $335,000
5. 5545 Canoga Ave, 3rd Floor, 2BR/2BA, 920SF, Listed for $410,000
6. 5525 Canoga Ave, 2nd Floor, 2BR/2BA, 820SF, Listed for $415,800
7. 21450 Burbank Blvd, 3rd Floor, 2BR+Loft, 1,050SF, Listed for $419,900
8. 5530 Owensmouth Ave, 3rd Floor, 2BR+Loft, 1,050SF, Listed for $419,000
9. 21400 Burbank Blvd, 2nd Floor, 2BR/2BA, 920SF, Listed for $420,000
10. 5500 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $274,950
11. 5530 Owensmouth Ave, 1st Floor, 2BR/2BA, 1,01SF, Listed for $349,950
12. 21500 Burbank Blvd, 2nd Floor, 2BR/2BA, 920SF, Listed for $398,700
13. 5500 Owensmouth Ave, 1st Floor, 3BR/2BA, 1,092SF, Listed for $448,000
November 2016 Closed Sales @ The Met Woodland Hills
1. 5550 Owensmouth Ave, 3rd Floor, 1BR/1BA, 610SF, Sold for $315,500 (Sold by Kevin McDonald-5550 Owensmouth Sale Information)
2. 21550 Burbank Blvd, 1st Floor, 1BR+Den, 810SF, Sold for $329,000
3. 21550 Burbank Blvd, 1st Floor, 1BR+Den, 810SF, Sold for $337,000
4. 5530 Owensmouth Ave, 1st Floor, 2BR/2BA, 1,010SF, Sold for $353,000
5. 5540 Owensmouth Ave, 2nd Floor, 2BR/2BA, 910SF, Sold for $380,000
6. 21400 Burbank Blvd, 1st Floor, 3BR/2BA, 1,020SF, Sold for $415,000
7. 5525 Canoga Ave, 1st Floor, 3BR/2BA, 1,020SF, Sold for $430,000
8. 5515 Canoga Ave, 3rd Floor, 2BR/2BA, 1,010SF, Sold for $365,000 (Freeway Unit)
9. 5550 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Sold for $397,000
At Your Service,
Kevin McDonald
Realtor
Pinnacle Estate Properties
818-256-7514
[email protected]
Lic# 01810388
www.KevMcdonald.com
Click Here to See Some of Your Neighbor’s Thoughts of Working With Me
If your property is currently listed with another Broker, this is not intended as a solicitation of that listing.
This information is based on all homes closed in “The Met” as reported through the Southland Regional Association of Realtors multiple listing service.
