MAY WOODLAND HILLS CONDO/TOWNHOUSE REAL ESTATE UPDATE
Hello Fellow Friends and Neighbors,
Hope you had a great month of May! It was another busy month for Woodland Hills condo/townhouse sales! Total number of sales in Woodland Hills was slightly down from April. The high sale for Woodland Hills townhouses was $550k which would be considerably less than April’s high sale of $709,500 for a larger sized unit in Warner Hill. June should be a busy month as well with some great new listings on the market. I am looking forward to seeing what some of the units currently in escrow sell for. Average price per SQFT for condo/townhomes in Woodland Hills rose 2.6% in May compared to April..
Average days on market in May decreased 24.4% with homes taking an average of 59 days to sell compared to 79 days in April. This shows me that market positioning and pricing is very important as sellers are starting to price their homes more in line with the current market climate.
April San Fernando Valley Condo/Townhouse Stats:
On a macro level, San Fernando Valley Condo/Townhouse Sales had a great uptick in sales activity in the month of April.
Total # of condos sold in the SFV increased 22% compared to March. Total # of condos going under contract in the SFV increased 16.5% compared to Marchs totals. Average days on market decreased from 51 days to 43 days in April. Average condo sale prices in the SFV had decreased 3.5% from April to March. These statistics were compiled from the Southland Regional Association of Realtor Statistics.
It appears buyer activity is starting to pick up which is typical for this time of the year and sellers are starting to adjust their pricing to the current market climate. We are also seeing more showings and activity at my listings in the area as well. Our market is starting to become more balanced after being a strong seller’s market for so long. Competition amongst sellers has brought prices down a bit compared to last year.
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, I would highly recommend sitting down with your realtor (hopefully me) and discussing your specific unit and how it compares to the current inventory. I’d love to interview with you if you do not currently have a realtor.
Values are still at or near peak values, but the sales climate is changing.
If you are considering selling at this time, I would highly recommend sitting down with your realtor (hopefully me) and discussing your specific unit and how it compares to the current inventory. I’d love to interview with you if you do not currently have a realtor.
I wouldn’t let this discourage anyone looking to sell as this is still a great market for sellers. 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. I 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 me. I’m a local resident and expert 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. The threat of increasing interest rates has also brought back some buyers who are looking to get into something know before their buying power decreases with a rise in interest rates. I know of many buyers still looking for homes in the area. The current inventory is just not what they are looking for.
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. 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 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 April 2019 to March 2019 as reported by the Southland Regional Association of Realtors MLS.
We are here to help you! Each complex is different! If you are interested in getting more information about your complex please feel free to contact me at [email protected] or 818-256-7514 if you have any questions.
2019 TOTALS
| MONTH | # OF NEW LISTINGS | # OF LISTINGS IN ESCROW | # OF CLOSED ESCROWS |
| MAY | 30 | 21 | 15 |
| APRIL | 22 | 17 | 17 |
| MARCH | 28 | 16 | 23 |
| FEBRUARY | 25 | 25 | 9 |
| JANUARY | 25 | 8 | 8 |
Inventory Level Today:
52 Active Listings
27 Listings in Escrow
Link to Current Inventory:
MAY Woodland Hills Condos/Townhouses Sold:
| St. # | St. Name | Sale Price | Price Per SQ.FT. | Br/Ba | Sq.Ft. | Sale Date |
| 5500 | Owensmouth AVE #332 | $334,000 | $556.67 | 1/1 | 600 | 4 |
| 21520 | Burbank BLVD #210 | $335,000 | $549.18 | 1/1 | 610 | 30 |
| 21620 | Burbank BLVD #4 | $380,000 | $266.48 | 2/2.5 | 1426 | 106 |
| 6300 | Shoup AVE #1 | $390,000 | $415.78 | 2/2 | 938 | 253 |
| 5540 | OWENSMOUTH AVE #104 | $422,500 | $459.24 | 2/2 | 920 | 14 |
| 5510 | Owensmouth AVE #312 | $435,000 | $414.29 | 2/2 | 1050 | 55 |
| 21555 | BURBANK #50 | $435,313 | $405.32 | 2/1.5 | 1074 | 91 |
| 5530 | Owensmouth AVE #302 | $460,000 | $438.10 | 2/2 | 1050 | 48 |
| 5550 | Owensmouth AVE #316 | $460,000 | $438.10 | 2/2 | 1050 | 10 |
| 5720 | Owensmouth AVE #167 | $478,500 | $423.45 | 2/2 | 1130 | 30 |
| 21301 | Erwin ST #305 | $510,000 | $485.71 | 2/2 | 1050 | 22 |
| 21931 | Burbank BLVD #12 | $510,000 | $342.05 | 2/2.5 | 1491 | 94 |
| 21301 | Erwin ST #324 | $525,000 | $500.00 | 2/2 | 1050 | 23 |
| 6202 1/2 | Nita AVE | $528,000 | $347.60 | 2/2.5 | 1519 | 11 |
| 22299 | Erwin ST | $550,000 | $350.77 | 3/2.5 | 1568 | 98 |
| 5500 | Owensmouth AVE #332 | $334,000 | $556.67 | 1/1 | 600 | 4 |
| 21520 | Burbank BLVD #210 | $335,000 | $549.18 | 1/1 | 610 | 30 |
| 21620 | Burbank BLVD #4 | $380,000 | $266.48 | 2/2.5 | 1426 | 106 |
| 6300 | Shoup AVE #1 | $390,000 | $415.78 | 2/2 | 938 | 253 |
| 5540 | OWENSMOUTH AVE #104 | $422,500 | $459.24 | 2/2 | 920 | 14 |
| 5510 | Owensmouth AVE #312 | $435,000 | $414.29 | 2/2 | 1050 | 55 |
| 21555 | BURBANK #50 | $435,313 | $405.32 | 2/1.5 | 1074 | 91 |
| 5530 | Owensmouth AVE #302 | $460,000 | $438.10 | 2/2 | 1050 | 48 |
| 5550 | Owensmouth AVE #316 | $460,000 | $438.10 | 2/2 | 1050 | 10 |
| 5720 | Owensmouth AVE #167 | $478,500 | $423.45 | 2/2 | 1130 | 30 |
| 21301 | Erwin ST #305 | $510,000 | $485.71 | 2/2 | 1050 | 22 |
Latest Customer Testimonial:
Kevin is THE ONLY agent you would ever need!
After working with a different agent trying to sell our condo for months we finally decided to go with Kevin. The best decision we ever made. Kevin got our condo sold in no time and it was completely hassle free. We are a busy couple with two little kids, Kevin made the whole process absolutely stress free.
Kevin is very knowledgeable, thorough, detail oriented, prompt, professional, transparent and above all extremely honest, trustworthy and committed. He knows what he is doing in every single step of the process. He provided timely update emails/texts to keep us posted of any development. We never had to chase him and we were never left dubious about what was happening. We can have him represent us even if we are a million miles away.
He went the extra mile to keep us happy, respected and satisfied in the whole transaction.
We can’t thank him enough and would not think of any other agent for our future real estate needs. We would highly recommend him for any family, friends or anyone reading this review.
Thanks a ton Kevin!!
Krishna & Lavanya S., Sold Unit in Building 16 in 8 Days after Working with 2 Agents Previously
At Your Service,
Kevin McDonald & Kevin Godley
The 818 Life
Realtor
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 “Woodland Hills” as reported through the Southland Regional Association of Realtors multiple listing service.
Click Below to See Our Latest Activity:
JUST LISTED…ARGUABLY THE FINEST LOCATION IN THE MET
IN ESCROW IN 1 WEEK…BUILDING 16 2 BEDROOM +LOFT UNIT
JUST LISTED…3BR WOODLAND HILLS TOWNHOUSE…WALK TO THE VILLAGE
JUST LISTED…AVAILABLE FOR SALE FULLY FURNISHED
IN ESCROW…TOP FLOOR 2 BEDROOM WITH POOL VIEW
IN ESCROW…PRIME LOCATION 1 BEDROOM WITH WOOD FLOORS AND LARGE BALCONY
SOLD…MOVE IN READY 1 BEDROOM WITH PRIVATE LOCATION AND COMMUNITY VIEWS
SOLD…WARNER CENTER TOWNHOUSE CLOSE TO EVERYTHING
FIND OUT WHAT IT COSTS TO SELL A HOME
SOLD BY KEVIN…UPDATED 1 BEDROOM CONDO! WALKING DISTANCE TO KOREATOWN AMENITIES
LISTED BY KEVIN…NEW CONSTRUCTION CONTEMPORARY ESTATE IN TARZANA
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 “Woodland Hills” as of 5/1/19 reported through the Southland Regional Association of Realtors multiple listing service.
