Hello Fellow Friends and Neighbors,
Hope all is well! The month of October was one of the slower months of the year for our community’s Real Estate activity with only two closed sales in the complex. This was to be expected due to the lower level of new inventory coming out in the community. Current inventory is back down toward 2017 lows. Amount of new listings and listings going into escrow have dropped since the height of the Summer market. We have two short sale properties on the market as well which goes to show that there are some homeowners still that are underwater on their mortgages.
Market activity in the Met Woodland Hills is still very active, but the amount of new Met inventory coming on the market is definitely starting to dwindle. This is all to be expected with the holiday season coming quickly. Values for 2 bedrooms (non loft) seemed to have cooled off a little bit with the October 2 bedroom sale closing at $10k lower than September’s 2 Bedroom (non loft) average of $410,000. Values for 1 bedrooms held strong with the $322k sale surpassing last month’s 1 bedroom sale average of $319k, but far lower than the $335k sale of a 1 bedroom that I sold in August 2017.
I’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. I’d love to help you make an informed decision with no pressure or obligation. While the market is definitely booming there are still some units still sitting unsold. I would guess that the reason for this is either being overpriced, in a less desirable location or both. 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. I can also advise on what improvements can net you the best ROI when it comes time to sell.
Many properties are still moving very quickly in the Met Woodland Hills with my listings having a lot of buyer activity and some even selling before going on the market for record prices. I 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. Now is the time to get some of the best prices of the year if you are looking to purchase a new home. The information below compares the Real Estate Activity of October 2017 to September 2017 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.
October 2017Met Woodland Hills Totals:
7 New Listings in October
6 Listings in Escrow in October
2 Listings Closed Escrow in October
September 2017 Met Woodland Hills Totals:
4 New Listings in September
6 Listings in Escrow in September
13 Listings Closed Escrow in September
August 2017 Met Woodland Hills Totals:
13 New Listings in August
16 Listings in Escrow in August
15 Listings Closed Escrow in August
Met Woodland Hills Inventory Level Today:
7 Active Listings
9 Listings in Escrow
October 2017 Met Woodland Hills New Listings
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- 5530 Owensmouth Ave, 3rd Floor, 1BR/1BA, 610SF, Listed for $320,000
- 5530 Owensmouth Ave, 3rd Floor, 2BR/2BA, 1,010SF, Listed for $418,000 (Freeway Facing Unit)
- 5530 Owensmouth Ave, 3rd Floor, 2BR/2BA, 920SF, Listed for $429,000
- 21500 Burbank Blvd, 3rd Floor, 2BR/2BA, 910SF, Listed for $439,000
- 5500 Owensmouth Ave, 3rd Floor, 2BR/2BA, 920SF, Listed for $450,000 (Short Sale)
- 5510 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $324,950
- 5550 Owensmouth Ave, 2nd Floor, 1BR/1BA, 610SF, Listed for $330,000
October 2017 Met Woodland Hills Listings Put in Escrow
- 5510 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $324,950
- 5540 Owensmouth Ave, 1st Floor, 2BR/2BA, 920SF, Listed for $389,900 (Short Sale)
- 5525 Canoga Ave, 3rd Floor, 2BR/2BA, 910SF, Listed for $399,000 (Freeway Facing Unit)
- 21550 Burbank Blvd, 2nd Floor, 1BR/1BA, 660SF, Listed for $329,000
- 5550 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Listed for $330,000
- 21550 Burbank Blvd, 1st Floor, 2BR/2BA, 920SF, Listed for $415,000
October 2017 Met Woodland Hills Closed Sales
- 5530 Owensmouth Ave, 1st Floor, 1BR/1BA, 610SF, Sold for $322,000
- 5530 Owensmouth Ave, 2nd Floor, 2BR/2BA, 920SF, Sold for $400,000
Latest Customer Testimonial:
“Kevin McDonald provided excellent service in marketing and selling our house. After talking with several Real Estate agents familiar with the area we chose Kevin as he had a very positive outlook from the beginning, and advised us on best pricing strategy for listing. He negotiated a better sales price than we expected, and guided us through the entire sale process in a very short time. He coordinated contractors for last minute repairs, and made the whole process so easy. I would seriously recommend Kevin to represent any seller or buyer and would definitely use his excellent service again.”
– Eugene Matthews, Sold Warner Center Townhouse with Kevin
At Your Service,
Kevin McDonald
Realtor & Met Woodland Hills HomeOwner
Pinnacle Estate Properties
818-256-7514
Lic# 01810388
Click Below to See My Latest Activity:
Sold for $335k! Highest 1 Bedroom Sale of 2017 @ The Met Woodland Hills
New Townhouse Listing in Woodland Hills
Sold by Kevin! Building 16 1 Bedroom Before Going on the Market
Sold by Kevin! Building 15 2 Bedroom…Sold for Full Price
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 reported through the Southland Regional Association of Realtors multiple listing service.
