Hello Fellow Friends and Neighbors,
We hope you had a great and relaxing Thanksgiving Holiday. November Met sales activity totals were pretty slow which was to be expected as we get closer to the holidays. I wouldn’t worry about the low sales activity totals.
In demand units right now are Top floor units of every floor plan and units that are move in ready. This month, we are representing clients on 2 of the 4 units in put in escrow this month and one is a top floor unit and both are move in ready units.
Pricing has cooled off compared to 2018 pricing, but there is considerable demand for units that are market priced. We put a 1 bedroom unit into escrow that had 3 offers before the seller accepted in offer.
Thinking About Buying?
Over the last few years, the client’s that we’ve helped purchase during the holiday season have received some of the best deals for the calendar year. We recently helped a fellow homeowner in building 13 purchase a 3 bedroom townhouse in Calabasas for quite a bit lower than what units in the complex were selling for just 3-4 months ago. Feel free to reach out if you have any questions and let’s see if there’s an opportunity for you to score a deal.
Here’s a link to the current and in escrow inventory:
https://matrix.crmls.org/Matrix/Public/Portal.aspx?ID=64472840312
Rental Activity Update:
We get asked about rental activity at the Met quite often so we’ve added additional information to our updates that may be of interest. Please let us know if you have any questions about the rental or sale market.
What are units renting for at the Met (Year to Date)?
| Unit Type | Average Rents ($/MO) |
| 1 Bedroom | $1,845 (+$0) |
| 1 Bedroom PLUS Den/Loft | $2,031 (-$2 From Last Mo.) |
| 2 Bedroom | $2,328 (-$4 From Last Mo.) |
| 2 Bedroom PLUS Loft | $2,421 (-$14 From Last Mo.) |
| 3 Bedroom | $2,590 (+$13 From Last Mo.) |
SFV Condo Median Price Statistics
If you are a homeowner looking to sell and purchase, sellers are now more willing to take contracts from buyers contingent on selling. If you are considering selling at this time, We would highly recommend sitting down with your realtor (hopefully us) and discussing your specific unit and how it compares to the current inventory. We’d love to interview with you if you do not currently have a realtor.
While the market is definitely changing, we wouldn’t let this discourage anyone looking to sell as there is still demand for units in the Met. If you are taking your proceeds and buying another property, this is a prime opportunity to take advantage of the lower interest rates and lower property taxes as most properties you would be looking for as replacements have had an adjustment in pricing as well.
The key is coming up with an effective marketing strategy that highlights the competitive advantages of the property. If you purchased between 2009-2015, current values are still significantly greater than when you purchased. If you purchased in 2006-2008, values are very close to your purchase at the height of the market so it may be a good time to get out with either a slight gain or minimal loss. Feel free to ask me about how I would do things in this market. We still think there is great opportunity to capture great prices for our units, but it is very important to analyze what your individual unit’s strengths and weaknesses are compared to what else is out there. If you have any questions about this, please reach out to us. I own a unit at the Met too so your success is also my success! We are local experts and can help you assess your property and compare it to what else is out there and how we stack up compared to what’s sold in the past. We know of many buyers still looking for homes in the area. The current inventory is just not what they are looking for.
We’d recommend anyone who has their unit as a rental property contact me to discuss the market conditions before you decide to rent the property out for another year or sell. We’d love to help you make an informed decision with no pressure or obligation. This is why it is important to consult with someone who is an expert in the complex so you don’t waste time on the market at a price that the market will not respond to. We can also advise on what improvements can net you the best ROI when it comes time to sell.
Properties are still moving very quickly in the Met. We know of many buyers looking right now and the low inventory is creating high demand of high quality buyers. It may be a good time to consider selling for anyone thinking about taking their equity and purchasing a new home either to get more space or shorten your commute. There are still many opportunities out there for anyone looking to move up to a bigger home or move closer to shorten your commute. We’ve recently helped a few of your former neighbors sell their condos and move into larger homes. The information below compares the Real Estate Activity of November 2019 to October 2019.
We are here to help you! I own a unit at the Met too! Please feel free to contact me at [email protected] or 818-256-7514 if you have any questions.
MONTHLY MET WOODLAND HILLS SALES ACTIVITY
2019 TOTALS
| MONTH | # OF NEW LISTINGS | # OF LISTINGS IN ESCROW | # OF LISTINGS CLOSED ESCROW |
| NOVEMBER | 4 | 4 | 3 |
| OCTOBER | 10 | 6 | 8 |
| SEPTEMBER | 6 | 6 | 6 |
| AUGUST | 9 | 7 | 6 |
| JULY | 6 | 6 | 11 |
| JUNE | 8 | 9 | 7 |
| MAY | 14 | 9 | 6 |
| APRIL | 10 | 7 | 6 |
| MARCH | 13 | 5 | 9 |
| FEBRUARY | 8 | 11 | 6 |
| JANUARY | 9 | 4 | 3 |
2018 TOTALS
| MONTH | # OF NEW LISTINGS | # OF LISTINGS IN ESCROW | # OF LISTINGS CLOSED ESCROW |
| JANUARY | 5 | 9 | 9 |
| FEBRUARY | 5 | 4 | 6 |
| MARCH | 7 | 7 | 4 |
| APRIL | 8 | 4 | 6 |
| MAY | 8 | 8 | 7 |
| JUNE | 10 | 5 | 8 |
| JULY | 8 | 5 | 6 |
| AUGUST | 11 | 6 | 7 |
| SEPTEMBER | 11 | 6 | 6 |
| OCTOBER | 11 | 8 | 6 |
| NOVEMBER | 6 | 2 | 10 |
| DECEMBER | 4 | 3 | 2 |
Inventory Level Today:
12 Active Listings
9 Listings in Escrow
November 2019 New Listings
| ADDRESS | SALE PRICE | BR/BA | SQFT | |
| 5540 | Owensmouth AVE 2ND FLR | $339,000 | 1/1,0,0,0 | 610/A |
| 5550 | Owensmouth AVE 1ST FLR | $349,000 | 1/1,0,0,0 | 610/A |
| 5515 | Canoga AVE 1ST FLR | $360,000 | 1/1,0,0,0 | 780/A |
| 5515 | Canoga AVE 1ST FLR | $419,900 | 2/2,0,0,0 | 820/P |
November 2019 Listings Put in Escrow
| ADDRESS | LIST PRICE | BR/BA | SQFT | |
| 5510 | Owensmouth AVE 2ND FLR | $339,000 | 1/1 | 610 |
| 5535 | CANOGA AVE 3RD FLR | $345,000 | 1/1 | 610 |
| 5530 | Owensmouth AVE 2ND FLR | $379,900 | 2/2 | 1000 |
| 21520 | Burbank BLVD 3RD FLR | $430,000 | 2/2 | 1070 |
November 2019 Closed Sales
| ADDRESS | SALE PRICE | BR/BA | SQFT | SALE DATE | |
| 5535 | Canoga AVE 2ND FLR | $313,500 | 1/1 | 610 | 11/14/19 |
| 5510 | OWENSMOUTH 2ND FLR | $395,000 | 2/2 | 890 | 11/6/19 |
| 21500 | Burbank BLVD 2ND FLR | $410,000 | 2/2 | 910 | 11/1/19 |
Latest Customer Testimonial:
Kevin McDonald and Kevin Godley worked hard to get our condo sold. They were responsive to our needs and knowledgeable about the local market we were selling in. We would recommend them to anyone trying to sell their home in the Woodland Hills area, specifically the Warner Center. Without their help, we would not of sold our home quickly and efficiently. Thanks to them, our home sold at a higher price than most units in our complex
Nick & Danielle B., Sold 1 Bedroom Unit in Building 16.
At Your Service,
Kevin McDonald & Kevin Godley
The 818 Life
Realtor & Met Woodland Hills Homeowner
Pinnacle Estate Properties
818-256-7514
Lic# 01810388/01216088
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.
Click Below to See Our Latest Activity:
IN ESCROW….BUYER GOT A GREAT PRICE FOR THIS BLDG 16. 2+LOFT
IN ESCROW WITH MULTIPLE OFFERS…2ND FLOOR 1 BEDROOM IN BUILDING 9
SOLD…CONGRATS TO OUR BUYERS MOVING FROM THE MET
JUST LISTED…3 Bedroom Townhouse in Westlake Village
SOLD…Our Buyer Got a Great Deal On a Home in Agoura Hills
Want to View Some Homes on the Market?? Want to View a Different Area? Contact me at 818-256-7514.
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 of 11/30/19 as reported through the Southland Regional Association of Realtors multiple listing service.
